The most common measure of the size of the typical error is the standard error of the regression, which is represented by s e . It is calculated using the following formula: We can visualize the SSE i...The most common measure of the size of the typical error is the standard error of the regression, which is represented by s e . It is calculated using the following formula: We can visualize the SSE in the formula as simply the sum of the squares of all of the vertical (residual) line segments. The square of the correlation coefficient, r 2 , is the proportion of the variation in the response variable that is explained by the least-squares regression line.
