The bounce rate represents the amount of people who visit your site and then leave right away. Essentially, they 'bounce' from your site.
I hope that helps.
TheContentKing is right, but the a "bounce" itself is counted by 10 second incremements, so using what what theContentKing said, if 10 people come to your site and 5 stay only for 8 seconds and leave, your bounce rate would be a whopping 50%. That is not bad, actually.
in my opinion, any bounce rate over 30% is good!
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