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I've read the site, the MANOVA section in a stats for n00bs book and Googled but I can't find this answer.

I believe I'm conducting a one-way MANOVA. I have one IV which consists of two groups. I have two DVs.

I have a result of:

F = 2.98,Pillai's Trace = 0.0306, df 2,189, p = 0.053

I've read Pillai's trace is similar to R^2 in that it's describing the amount of variance explained but nowhere says how you actually interpret that. I would really appreciate some pointers or a link to a clear explainer on the subject. I.e. does this mean 3% of model variance explained? NB. I know this result isn't strictly significant but I'm using it as an example as I have some which are.

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