Coefficient of determination (R²)

The coefficient of determination, called R², measures how well a statistical model predicts or explains changes in a data set. It is expressed as a value between 0 and 1 (or 0% to 100%). An R² of 1 indicates perfect prediction, meaning the model accounts for all the variation in the data. An R² of 0 means the model doesn’t explain any of the variation. For example, an R² of 0.75 suggests the model explains 75% of the data’s variation, giving you a sense of the model’s accuracy and reliability in representing the data.