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A measure that describes how well a model fits the data. The most common goodness-of-fit measure is R-Square.
Typically, goodness-of-fit measures either:
- Have a value between 0 and 1, where 1 indicates a perfect fit and 0 indicates no fit.
- Have a minimum of 0, where 0 indicates a perfect fit and higher numbers indicate worse fits.
Also known as
- Goodness of fit