What does r2 of .73 tell us? is this a strong or weak, Ask an Expert

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The U.S. Postal Service is attempting to reduce the number of complaints made by the public against its workers. In order to facilitate this task, a staff analyst for the service regresses the number of complaints lodged against an employee last year on the hourly wage of the employee for the year. The regression equation finds:

Y = 20.2 - 1.2X with a r² of .73

What does r² of .73 tell us? Is this a strong or weak correlation? How can you tell?

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