What is R2 | Data Science Interview Questions and Answers | Thinking Neuron

R2 value measures the goodness of fit. It is NOT the Accuracy of the model. Accuracy is measured using 100-MAPE value.
It tells how many data points are being explained by the model out of all the data points. That means variance "explained" by the model Vs Total Variance.
Max value of R2 is 1
Min Value of R2 is 0
An Ideal range of R2 value is between 0.6 to 0.9. This means the predictive model is able to explain a good amount of variance in the data and can be taken into consideration for testing and accuracy calculation on Test Data.
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