What Are the Explained Sum of Squares (ESS),the Unexplained Sum

question 39

Essay

What are the Explained Sum of Squares (ESS),the Unexplained Sum of Squares (USS),and the Total Sum of Squares (TSS)? Explain.

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Definitions:

Quarterly Savings

Savings accumulated over a quarter (three months), often as a result of budgeting or reducing expenses.

Rate Of Return

The return or downturn on an investment spanned over a fixed period, quantified as a percentage of the original investment's value.

Equipment Savings

Reductions in costs achieved through the efficient use, purchase, or maintenance of equipment.

Equal Present Values

A financial concept where two or more cash flows or investments are considered equivalent based on their present values, even if the nominal amounts differ.