Coefficient of Determination (R^2)

The coefficient of determination (R^2) is a statistical measure that indicates how much variation in a dependent variable can be explained by the independent variables in a regression model. It goes from 0 to 1, with 1 indicating that the model explains all of the variability and 0 indicating that it does not. R^2 measures how well a model fits actual data points, where a larger value indicates a better fit.

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