What are the best metrics for regression models?
An example of an AI chatbot conversation about evaluating regression models' performance metrics.
What are the best metrics to evaluate regression models?
The best metrics for regression models include Mean Absolute Error (MAE), Mean Squared Error (MSE), and 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.
How do I choose between MAE and MSE?
Use MAE for a more interpretable error measure, and MSE if you want to penalize larger errors more heavily.
Are there any other metrics I should consider?
Yes, you might also consider Adjusted R-squared, Root Mean Squared Error (RMSE), and AIC/BIC for model comparison.
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