Correlation, $r$, is a measure of linear association between two variables. Coefficient of determination, $r^2$, is a measure of how much of the variability in one variable can be "explained by" variation in the other.
For example, if $r = 0.8$ is the correlation between two variables, then $r^2 = 0.64$. Hence, 64% of the variability in one can be explained by differences in the other. Right?
My question is, for the example stated, is either of the following statements correct?
- 64% of values fall along the regression line
- 80% of values fall along the regression line