After running a linear regression model, you want to check the goodness of fit of the model and you have decided to look at the coefficient of determination value (R2). Which of the following statements is/are true?
Select all correct answers
A)The coefficient of determination describes the percentage of the total variation that is explained by the regression line.
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B)The coefficient of determination is the ratio of the square of the correlation of the estimated values to the square of the correlation of the observed values.
C)The coefficient of determination shows the share of total variation in demand that cannot be explained by the regression model.
D)It is good to have a high coefficient of determination, but we should avoid over-fitting our data.
E)If the coefficient of determination is very low, our model is not good at explaining the reality.
F)None of the above.