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A real number characterising the real-value model prediction quality ( goodness of fit ):
| LaTeX Math Block |
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R^2 = 1 - \frac{MSD(x, \hat x)}{MSD(x, \bar x)} = 1 - \frac{\sum_i (x_i -\hat x_i)}{\sum_i (x_i -\bar x)} |
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The
values falling outside the above range indicate a substantial mismatch between variable
and model prediction
and have a meaning that gap between predicted and actual values is higher than the variance of the actual data.
See also
Statistics
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Formal science / Mathematics / Statistics / Statistical Metric
