Coefficient Of Determination
Coefficient of Determination is a statistical measure that represents the proportion of the variance in the dependent variable that is predictable from the independent variable(s). It is also known as R-squared (R²) and is used to evaluate the goodness of fit of a regression model. The value of R² ranges from 0 to 1, where 0 indicates that the model does not explain any variability in the dependent variable and 1 indicates that the model explains all the variability in the dependent variable. A higher value of R² indicates a better fit of the model. However, a high R² value does not necessarily mean that the model is a good fit, as it may be overfitting the data. Therefore, it is important to use other evaluation metrics in conjunction with R² to determine the accuracy of the model.
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