a measure of how well variables of the model explain some phenomenon

Pseudo R2 is a measure of how well variables of the model explain some phenomenon. If we catch with our variables more than 0,5 we can form our expectation for the model, but there are other unexplained issues and then try to find other factors that can explain and test our thesis.

Psuedo r-squared is a legitimate thing that can be reported. However, you want to find out from the software documentation which pseudo-r-square it's reporting. (Some common ones are listed here: .