To calculate the goodness of fit:
\[ GoF = 1 - \left( \frac{SSR}{SST} \right) \]
Where:
Goodness of fit refers to a statistical measure that shows how well-observed outcomes match the expected outcomes. It is used in various fields such as economics, psychology, and biology to test the validity of a specific model or theory. The test compares the observed data with the expected data according to a certain model, with a smaller difference indicating a better fit. This helps in determining whether the model or theory being tested provides an accurate representation of the reality it’s supposed to describe.
Let's assume the following values:
Step 1: Divide the sum of squares of the residuals by the total sum of squares:
\[ \frac{SSR}{SST} = \frac{50}{200} = 0.25 \]
Step 2: Subtract the result from 1:
\[ GoF = 1 - 0.25 = 0.75 \]
