Basic Excel Business Analytics #47: SST = SSR + SSE & R Squared & Standard Error of Estimate

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Learn:
1) (00:14) What we will do in this video: SST, SSR, SSE, R^2 and Standard Error
2) (00:44) What we did last video
3) (01:11) How do we think about “How good our Estimated Regression Line is”?
4) (01:26) What a Perfect Line would look like
5) (01:48) What is a Residual?
6) (04:35) Compare Ybar (Y Mean) Line to Estimated Regression Line
7) (06:18) Visual Proof of Calculations for SST, SSR, SSE and R^2. Visual proof that any Y value and Predicted Value has two parts: Explained and Explained, or, Error and Regression, or Residual and Regression.
8) (08:18) Benefit of using Regression Line over Y Bar Line.
9) (09:00) What we must Square the Errors / Residuals.
10) (11:02) Formulas for SST, SSR and SSE.
11) (12:12) Coefficient of Determination (goodness of Fit of Regression Equation to Sample Raw X Y Data Points), R Squared Formula.
12) (13:32) Use Excel FORECAST function to calculate Predicted Values.
13) (15:08) Using Excel to calculate Residuals
14) (15:45) SST = Sum of Squares Total, calculate in Excel
15) (16:29) SSR = Sum of Squares Regression, calculate in Excel
16) (17:06) SSE = Sum of Squares Error, calculate in Excel
17) (17:31) Alternative methods for calculating SST, SSR and SSE, including using the Excel function SUMSQ and residuals to calculate SSE.
18) (18:50) Use Excel to calculate Coefficient of Determination, R Squared (three methods: SSR/SST, 1-SSE/SST and RSQ Function)
19) (20:58) Relationship between Coefficient of Determination (R Squared) and Coefficient of Correlation
20) (24:42) Estimate of Variation (Mean Square Error = MSE) and Standard Deviation (Standard Error of the Estimate = s) for the Regression Line / Equation.
21) (27:20) Calculate Standard Error of the Estimate using STEXY function in Excel.
19) (28:14) Second Example on BMX Racing Bike and Price data set.
22) (30:02) Summary and Conclusion

Download Excel File Not: After clicking on link, Use Ctrl + F (Find) and search for “Highline BI 348 Class” or for the file name as seen at the beginning of the video.