The coefficient of determination, also known as R-squared, measures the proportion of variation in the dependent variable that can be explained by the independent variable(s). It ranges from 0 to 1, where 0 indicates no relationship and 1 indicates a perfect fit.
Think of R-squared as a puzzle. If you have all the pieces perfectly fitting together, you would have an R-squared value close to 1. But if your puzzle pieces don't match well or are missing, your R-squared value will be closer to 0.
Regression Analysis: Regression analysis is a statistical technique used to model and analyze relationships between variables. It helps determine how changes in one variable affect another.
Residuals: Residuals are the differences between observed values and predicted values in regression analysis. They provide information about how well the model fits the data.
Overfitting: Overfitting occurs when a statistical model is too complex or specific to fit noise or random fluctuations in data rather than capturing true underlying patterns.
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