I used logistic regression model for analysis which has over 17,000 observations. Although, the model results in several statistically significant predictors, McFadden's Adj R squared/ Cragg & Uhler's R2 are very low! For my model McFadden's Adj R squared is 0.026 and Cragg & Uhler's R squared is 0.044. Can I proceed with these R squared? I would really appreciate your suggestion on accepted level of R squared, which has to be backed up by relevant literature. Thank you!!

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