Understanding statistical measures of model fit is important to understand the quality of the model fit. Two values, R2 and R2 adjusted are common statistical measures used to evaluate model fit. R2 also known as the coefficient of determination and R2 adjusted are mathematically calculated using sums of squares. Having the ability to interpret these values strengthens the scientists’ understanding of a statistical model and improves their skills to create better models. The goal of this video is to explain what R2 and R2 adjusted are and understand the meaning.
This video is part of an educational series presented by AAPS. Stats Snax discusses basic statistical concepts that apply to the pharmaceutical industry using examples from CMC development areas. Designed for non-statisticians, you will learn foundational concepts that CMC statisticians encounter in their daily interactions with clients. If you have ever wondered, “What is a p-value?” or “How is expiry determined?” – This series is for you!