Random Forests
Machine Learning
A statistical measure indicating how well the regression predictions approximate the real data points, expressed as a percentage.
Detailed Explanation
R-Squared, also known as the coefficient of determination, measures the proportion of variance in the dependent variable that is predictable from the independent variables. It indicates the goodness of fit of a regression model, with values ranging from 0 to 1 (or 0% to 100%). Higher R-squared values imply the model better explains the variability in the data.
Use Cases
- •Evaluating model fit to determine how well a regression explains data variability and predicts outcomes in a sales forecast.
Related Terms
Other terms in the Machine Learning category