I split my data into training set and test set and am running linear regression on it. I am using Python's "scikit" library and I am getting an $R^2$ score of 0.31 and an RMSE value of 0.037. The response variable in my regression consists of values between 0 and 1 so the RMSE value is giving me an error rate of 3.7%. However, the low $R^2$ score indicates that the model is not working well. I'm not sure if I'm misunderstanding these metrics and not sure how to interpret these results. I would appreciate any guidance.
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http://stats.stackexchange.com/questions/38631/rmse-vs-coefficient-of-determination This thread might help. – tho_mi Dec 05 '15 at 21:15
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3Depending on the task, an R^2 of 0.31 may be pretty good. – George Dec 05 '15 at 21:28
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1What makes that $R^2$ "poor"? What makes some larger $R^2$ "good"? – Glen_b Dec 06 '15 at 04:43
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*"The response variable in my regression consists of values between 0 and 1 so the RMSE value is giving me an error rate of 3.7%"* - I don't think that's a valid interpretation of RMSE... Have you tried just plotting the data? – naught101 Sep 02 '16 at 05:50