R-square and Goodness of the Fit

Let’s understand the r-square and the goodness of fit.

R-squared

The coefficient of determination, $R^2$ or $r^2$ (“R-squared”), is the proportion of the variance in the dependent variable that is predictable from the independent variable(s). It measures how well-observed outcomes are replicated by the model based on the proportion of total variation of outcomes explained by the model.