R-squared is one of the most commonly used metrics to measure performance.
But it took me 2 years to figure out the mistakes that were killing my regression models.
In 2 minutes, I'll share how I fixed 2 years of mistakes (and made 50% more accurate models than my peers). Let's go:
1. R-squared (R2):
R2 is a statistical measure used in regression models that provides a measure of how well the observed outcomes are replicated by the model, based on the proportion of total variation of outcomes explained by the model.
2. Range (0 to 1):
R2 ranges from 0 to 1. A higher R2 value indicates a better fit between the prediction and the actual data. For example, an R2 value of 0.70 suggests that 70% of the variance in the dependent variable is predictable from the independent variable(s).
Understanding probability is essential in data science.
In 4 minutes, I'll demolish your confusion.
Let's go!
1. Statistical Distributions:
There are 100s of distributions to choose from when modeling data. Choices seem endless. Use this as a guide to simplify the choice.
2. Discrete Distributions:
Discrete distributions are used when the data can take on only specific, distinct values. These values are often integers, like the number of sales calls made or the number of customers that converted.