Model Adequacy Checking with MAE, MSE, and r2-score

Model Adequacy Checking - Project   OBJECTIVE The goal of this project is to use the Mean Absolute Error (MAE), Mean Squared Error (MSE) and Coefficient of determination (r2) to check for the best suitable measure for model adequacy checking.   BACKGROUND OF THE STUDY We’ve seen some Data Scientist using MSE and MAE for model adequacy checking and it is really wrong because, it only shows us the deviation of the estimated value from their true value in their squares &  absolute values  respectively, we know the closer it is to zero the less variation in the dataset, yet there is no single/range  value(s) that serve(s) as the yardstick on which to base our objective decision from; Hence, the Coefficient of Determination (r2-score) which measures the variation of the Target variable as explained (caused) by the feature variables, if it has value greater than ( ≥ ) 80%, it is a good fit for model adequacy and can be used for the goodness of fit test for the dataset understudy.   DATASET INFORMATION Rows (observations):  200 Columns (features): 3 Target variable: Sales Features include: TV, Radio & Newspaper   STEPS PERFORMED Data Cleaning Model Trained: Linear Regression Data set plot: Radio Ad spend Vs Sales Adequacy Evaluation: MSE = 27.6, MAE = 4.6 & r2-score achieved the performance of 10.70.   CONCLUSION From the Scatter plot, we saw weak relationship between Radio Advertisement spending and Sales and it was hugely supported by r2-score that showed only 10.7% relationship between Radio ad spending and Sales, it indicates that only 10.7% of the sales was attributed to Radio Ad. I’m happy to share this Model Adequacy Checking project I worked on. Check it out here: https://lnkd.in/d4eVzhiv #DataScience #Utiva #Python #MachineLearning

Which measure do you use for your Model Accuracy Checking?

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