The conversation between human and AI assistant.
What is an acceptable range for r-squared in real-world environments?
Interesting. Can you tell me more about how r-squared is calculated?
Sure. R-squared is a statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable or variables in a regression model. It ranges from 0 to 1, where 0 indicates that the dependent variable cannot be predicted by the independent variable, and 1 indicates the dependent variable can be predicted without error by the independent variable.