correlation coefficient

Just another opinion about R^2 coming from the field of US Psychology
research and business:
The first and foremost technique taught in Psychology Departments in
subfields where experimental designs are rarely possible (i.e., social
psychology, personality psychology, developmental psychology,
Industrial/Organizational psychology) is multiple regression. You have
some important response variable and a bunch of predictors. The
goodness of fit of the model is assessed by looking at R^2. Hence,
everyone has a feel for it and everyone wants to see it reported.
Further, in business settings, most clients can understand a simple
correlation. So, "correlation squared" is relatively easy to explain.
Most of the corporate clients get nervous if you try to explain even a
simple confusion table. Why? Because they have no internal benchmark
for what's good fit and what's bad fit. With R^2 it's much easier.
Dimitri

On Wed, Apr 29, 2009 at 7:51 AM, Peter Flom

correlation coefficient

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