Explained, Unexplained & Total Variation | ESS, RSS, TSS Explained

Описание: Explained, Unexplained & Total Variation | ESS, RSS, TSS Explained

In this video, we explain the concepts of Explained Variation (ESS), Unexplained Variation (RSS), and Total Variation (TSS) in regression analysis. These concepts are crucial for understanding the goodness of fit and the accuracy of regression models.

We will cover:
✅ Definition of ESS, RSS, and TSS
✅ Relationship between explained, unexplained, and total variation
✅ Step-by-step calculation and interpretation
✅ Practical example in regression analysis

This lecture is highly useful for students of Econometrics, BS Economics, MPhil Economics, and anyone learning regression analysis and model evaluation.

📌 Don’t forget to like, share, and subscribe to Economics Portal for more tutorials on econometrics, statistics, and mathematical economics.
#statistics #study #microeconomics #education #economics #macroeconomics #foryou #fyp #exam #admission