I am trying to learn how to interpret R. Is there a formula? See screenshot. Is it a standard formula? Also, is there a way to work this out in excel?

3.3.2: Interpreting R2 Jump to level 1 A building manager is trying to determine if the monthly heating cost of the building is mainly influenced by the outside temperature. The plot below shows the relationship between the number of heating degree days in a month and the monthly heating costs of the building. The linear regression output is given below. 400 Regression Statistics 300 Multiple R 0.996382 0.992777 200 R Square Monthly heating cost (in dollars) Adjusted R Square 0.992519 100 Standard Error 8.17228 Observations 30 100 200 300 400 500 600 Number of heating degree days in a month R- = Ex: 0.654321 The number of heating degree days explains how much of the variance in monthly heating cost? Pick | variance