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Actual Class (from validation data) Estimated Probability of Record Belonging to Class “fraud" 0.95 fraud fraud 0.91 fraud 0.75 non-fraud fraud 0.67 0.61 non-fraud 0.46 fraud 0.42 non-fraud 0.25 non-fraud 0.09 non-fraud 0.04 Based on the above information, answer the following three questions: Question 3.1 `. What is the overall accuracy of your model, if the chosen probability threshold value is 0.5? Question 3.2 ). What probability threshold value should you choose, in order to have Precisionfraud = 100% for your model? (Explain.) What is the overall accuracy of your model in this case?

Actual Class (from validation data) Estimated Probability of Record Belonging to Class “fraud" 0.95 fraud fraud 0.91 fraud 0.75 non-fraud fraud 0.67 0.61 non-fraud 0.46 fraud 0.42 non-fraud 0.25 non-fraud 0.09 non-fraud 0.04 Based on the above information, answer the following three questions: Question 3.1 `. What is the overall accuracy of your model, if the chosen probability threshold value is 0.5? Question 3.2 ). What probability threshold value should you choose, in order to have Precisionfraud = 100% for your model? (Explain.) What is the overall accuracy of your model in this case?

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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solve question 3.2 with explanation and get upvotes
Actual Class (from validation data) Estimated Probability of Record Belonging to Class “fraud" 0.95 fraud fraud 0.91 fraud 0.75 non-fraud 0.67 fraud 0.61 non-fraud 0.46 fraud 0.42 non-fraud 0.25 non-fraud 0.09 non-fraud 0.04 Based on the above information, answer the following three questions: Question 3.1 What is the overall accuracy of your model, if the chosen probability threshold value is 0.5? Question 3.2 ). What probability threshold value should you choose, in order to have Precisionfraud = 100% for your model? (Explain.) What is the overall accuracy of your model in this case? Question 3.3 What probability threshold value should you choose, in order to have Recalltraud = 100% for your model? (Explain.) What is the overall accuracy of your model in this case? Note that for Questions 3.2 and 3.3, if you think there are multiple possible thresholds, you only need to pick and report one.
Transcribed Image Text:Actual Class (from validation data) Estimated Probability of Record Belonging to Class “fraud" 0.95 fraud fraud 0.91 fraud 0.75 non-fraud 0.67 fraud 0.61 non-fraud 0.46 fraud 0.42 non-fraud 0.25 non-fraud 0.09 non-fraud 0.04 Based on the above information, answer the following three questions: Question 3.1 What is the overall accuracy of your model, if the chosen probability threshold value is 0.5? Question 3.2 ). What probability threshold value should you choose, in order to have Precisionfraud = 100% for your model? (Explain.) What is the overall accuracy of your model in this case? Question 3.3 What probability threshold value should you choose, in order to have Recalltraud = 100% for your model? (Explain.) What is the overall accuracy of your model in this case? Note that for Questions 3.2 and 3.3, if you think there are multiple possible thresholds, you only need to pick and report one.
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