Statistical parameters : a (very) quick guide
Use this when you want to quickly understand the performance of your statistical models or while reviewing a paper.
Coefficient of determination:
\(R^2\)
Measures the degree of variance in the dependent variables that are measured by an independent variable.
Range of values: 0 to 1
How to interpret: The higher the coefficient of determination, the better the model’s predictive performance.
More information: Link