PRESS is one of the many criteria used to evaluate the quality of a regression model. It is used for choosing between several candidate models built on the same data set, for example for the purpose of variable selection.
PRESS Statistic. The PRESS statistic is often used in regression analyses, in order to summarize the fit of a particular model in a sample of observations that were not used to estimate the model parameters.
the target concept may be a binary attribute FRAUDULENT with values "yes" or "no" that indicates whether a given transaction is fraudulent. Or, in a weather prediction application, there may be several target concepts such as TEMPERATURE, PRESSURE, ...
 See also: Regression, Residual, Validation, Boosting, Weighted Least Squares
  
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