A quadratic regression model has a coefficient of determination of $R^2 = 0.88$. What does this value indicate about the model?

The model explains 12% of the variation in the data.

The model explains 88% of the variation in the data.

The model is a perfect fit for the data.

The model is a poor fit for the data.

A researcher creates two models for a dataset. Model A has $R^2 = 0.91$ and Model B has $R^2 = 0.65$. Which statement correctly compares the two models?

Model B is a better fit than Model A.

Model A is a better fit than Model B.

Both models fit the data equally well.

Neither model is a particularly good fit.

The quadratic model is an excellent fit.

The model explains 65% of the data's variation.

The data points form a perfect parabola.

The quadratic model may not be appropriate for this data.