Question

How to check if the regression model fits the data well?

Answer 1

There are a couple of metrics that you can use:

1. R-squared/Adjusted R-squared: Relative measure of fit. This was explained in a previous answer
2. F1 Score: Evaluates the null hypothesis that all regression coefficients are equal to zero vs the alternative hypothesis that at least one doesn’t equal zero
3. RMSE: Absolute measure of fit.