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Improving the Fit of a Regression Model

How might you go about creating a stronger regression model? For example, you have a multiple regression model with an adjusted R-Square of 0.49, which would explain 49% of the variance of the dependent measure, and you would like to explain 70% of the variance of the dependent measure.

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There are two ways to improve model fit (r-square and/or adjusted r-square).

(1) Remove independent variable(s) that are not strongly correlated with the dependent variable. A good procedure to use would be something like this....

Remove the least significant independent variable from the regression model. This would be the variable with the lowest ...

Solution Summary

In the solution, 2 methods of improving model fit are considering. Procedures are given for the 2 methods.