What are common regression metrics?
An example of an AI chatbot conversation about common regression metrics used in data analysis.
What are some common regression metrics I should know about?
Common regression metrics include Mean Absolute Error (MAE), Mean Squared Error (MSE), R-squared, and Adjusted R-squared.
Can you explain what R-squared means?
R-squared measures the proportion of variance in the dependent variable that can be explained by the independent variables in the model.
How do I interpret Mean Squared Error?
Mean Squared Error (MSE) indicates the average squared difference between predicted and actual values; lower values mean better fit.
Are there any metrics that are better for specific types of data?
Yes, for example, MAE is often preferred for data with outliers, while MSE is sensitive to them.
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