I have regression model, where target is between 0 to 1. standard deviation of target is 0.817 and RMSE of model on hold out is 0.52. I am wondering if this good model or not.
Any feedback will be useful
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The residuals of your model seem to vary by a large extent (as denoted by RMSE, which is in the same units as the target). Without any context on the problem you are solving, it would be hard to decide whether the model is good or not. But, it does appear to be on the poorer side.