The conversation between human and AI assistant.
What is an acceptable range for r-squared in real-world environments?
That makes sense. So, are there any situations where a lower r-squared would still be acceptable?
Yes, in some cases a lower r-squared may still be acceptable. For example, in social sciences, r-squared values around 0.3 to 0.5 are often considered sufficient because there are many other variables that can impact the outcome in those fields.