as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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use a tool like mean-squared error (mse) to evaluate the model performance.
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mean-squared error (mse) is a widely used metric for evaluating the performance of models, such as machine learning algorithms. mse measures the average squared difference between the predicted values and the actual observed values. this metric can be used to assess the predictive power of a model, as it provides a measure of how close the predicted values are to the actual observed values. mse can also be used to compare multiple models in order to determine which one is the most accurate.
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