What is the best definition of 'explained variance' from a teaching perspective?
I quite like this one:
"Explained variance (also called explained variation) is used to measure the discrepancy between a model and actual data. In other words, it’s the part of the model’s total variance that is explained by factors that are actually present and isn’t due to error variance."
This may be too subjective for this site but I'd love to get some of your own insight on this point.