Q
quick_silver
hi,
The company hired the help of an outsider to come up with a predictive model for the yield in the manufacturing plant where i was assigned. Now we are using these models, but then i noticed that there were times that the actual is very far from the predicted values. My question is that how will i measure the effectiveness of the model using the new data set.
According to some of the articles i have read regarding this, they were talking about arriving the r square of the new data set. Is calculating the r square enough to determine the model validity as of this moment.
Now I'm asking for a guidance on how to really measure the model validity for the new data set.
Thanks in advance!
The company hired the help of an outsider to come up with a predictive model for the yield in the manufacturing plant where i was assigned. Now we are using these models, but then i noticed that there were times that the actual is very far from the predicted values. My question is that how will i measure the effectiveness of the model using the new data set.
According to some of the articles i have read regarding this, they were talking about arriving the r square of the new data set. Is calculating the r square enough to determine the model validity as of this moment.
Now I'm asking for a guidance on how to really measure the model validity for the new data set.
Thanks in advance!