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What does a logarithmic trend line tell you?
A logarithmic trendline is a best-fit curved line that is most useful when the rate of change in the data increases or decreases quickly and then levels out. A logarithmic trendline can use negative and/or positive values.
What does a polynomial trendline show?
A polynomial trendline is a curved line that is used when data fluctuates. It is useful, for example, for analyzing gains and losses over a large data set. The order of the polynomial can be determined by the number of fluctuations in the data or by how many bends (hills and valleys) appear in the curve.
What does a trendline show?
A trendline, also referred to as a line of best fit, is a straight or curved line in a chart that shows the general pattern or overall direction of the data. This analytical tool is most often used to show data movements over a period of time or correlation between two variables.
What does a logarithmic trendline mean?
A logarithmic trendline is a best-fit curved line that is most useful when the rate of chance in the data increases or decreases quickly and then levels out. A logarithmic trendline can use negative and/or positive values. Polynomial. A polynomial trendline is a curved line that is used when data fluctuates.
What does a polynomial relationship mean?
Polynomial trending describes a pattern in the data that is curved or breaks from a straight linear trend. It often occurs in a large set of data that contains many fluctuations. As more data becomes available, the trends often become less linear, and a polynomial trend takes its place.
What does the line of best fit tell you?
Mentor: A line of best fit is often useful to attempt to represent data with the equation of a straight line in order to predict values that may not be displayed on the plot. The line of best fit is determined by the correlation between the two variables on a scatter plot.
What is r2 in trendline?
R-squared is a statistical measure of how close the data are to the fitted regression line. It is also known as the coefficient of determination, or the coefficient of multiple determination for multiple regression.
What does an R squared value mean?
R-squared (R2) is a statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable or variables in a regression model.
What does an r2 value of 0.9 mean?
R2. Some statisticians prefer to work with the value of R2, which is simply the correlation coefficient squared, or multiplied by itself, and is known as the coefficient of determination. ... An R2 value of 0.9, for example, means that 90 percent of the variation in the y data is due to variation in the x data.
What is a good R squared value for correlation?
r is always between -1 and 1 inclusive. The R-squared value, denoted by R 2, is the square of the correlation. It measures the proportion of variation in the dependent variable that can be attributed to the independent variable. The R-squared value R 2 is always between 0 and 1 inclusive.