I have a doubt in accuracy prediction for regression. I'm new to regression, so please help me? Suppose if I have correlation coefficient as 0.97 and root mean square error as 0.0003. How to calculate accuracy for this?
As Jean-Karim suggests you should do cross-validation. In R you can use the CVlm function from DAAG package : http://math.furman.edu/~dcs/courses/math47/R/library/DAAG/html/CVlm.html
Anyway your post should be on the crossValidated (stats stack exchange) as it's not a bioinformatic question : https://stats.stackexchange.com/
These coefficients are only a measure of how well your model fits the data. They say nothing about the prediction accuracy. A common approach to measure accuracy of predictions is to use crossvalidation.
Can u explain in detail? By using cross-validation how to calculate accuracy for regression.
In crossvalidation, you build your model on part of the training data and measure the accuracy on the remaining training data. You repeat the process several times and average the results. There are different ways of splitting the training data. See the wikipedia article.
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