Stu_Souten
New member
- Joined
- Nov 11, 2018
- Messages
- 6
Hello all
I have created a linear regression model for some data which is y= 541.5 + 0.239 * x
I need to check how reliable this model is and one of the metrics I am using is the Predicted R^2, in this case it is 8%.
I know that the R^2 value tells you how well the model predicts new observations but I am trying to understand what my R^2 of 8% is telling me???
Is my R^2=8% telling me that my model is able to predict the response of new observations to an accuracy of 8% i.e. if I had a new x value of say 22, then using my regression model I would get a y value of 541.5+0.239*22 = 546.758, would it be correct to say that my predicted value of 546.758 is only 8% of the true value.
Does this makes sense?
Thank you for your help.
I have created a linear regression model for some data which is y= 541.5 + 0.239 * x
I need to check how reliable this model is and one of the metrics I am using is the Predicted R^2, in this case it is 8%.
I know that the R^2 value tells you how well the model predicts new observations but I am trying to understand what my R^2 of 8% is telling me???
Is my R^2=8% telling me that my model is able to predict the response of new observations to an accuracy of 8% i.e. if I had a new x value of say 22, then using my regression model I would get a y value of 541.5+0.239*22 = 546.758, would it be correct to say that my predicted value of 546.758 is only 8% of the true value.
Does this makes sense?
Thank you for your help.