The following estimated regression equation based on 30 observations was presented. ŷ = 17.6 + 3.8x, - 2.3x, + 7.6x3 + 2.7x4 The values of ST and SSR are 1,807 and 1,755, respectively. (a) Compute R?. (Round your answer to three decimal places.) R2 = (b) Compute R_?. (Round your answer to three decimal places.) R_2 = (c) Comment on the goodness of fit. (For purposes of this exercise, consider a proportion large if it is at least 0.55.) O The estimated regression equation provided a good fit as a large proportion of the variability in y has been explained by the estimated regression equation. O The estimated regression equation did not provide a good fit as a small proportion of the variability in y has been explained by the estimated regression equation. O The estimated regression equation did not provide a good fit as a large proportion of the variability in y has been explained by the estimated regression equation. O The estimated regression equation provided a good fit as a small proportion of the variability in y has been explained by the estimated regression equation.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.