I am trying to do a multiclass classification on a significant amount of output labels (1000).
I built a model using KNN. The accuracy given by
accuracy = knn.score(X_test, y_test) is 0.5.
Does this mean that given an input, the model is able to predict 50% of the time which label the data belongs to? If yes, I would intuitively say that this is good, since randomly choosing a label would have a probability of 0.1%.