Interpreting R²: a Narrative Guide for the Perplexed

An accessible walkthrough of fundamental properties of this popular, yet often misunderstood metric from a predictive modeling perspective

R² (R-squared), also known as the coefficient of determination, is widely used as a metric to evaluate the performance of regression models. It is commonly used to quantify goodness of fit in statistical modeling, and it is a default scoring metric for regression models both in popular statistical modeling and machine learning frameworks, from statsmodels …

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