Lecture 7 Visualizing Model performance + self study chapter 6

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5 Terms

1
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what do classification model output

a score, ranking observations by likelihood of responde (for some models interpreted as probability estimate)

2
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performance depends on threshold

different tresholds → different confusion matrices

evaluating performance conditional on threshold =/= evaluate score ranking

3
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profit-curve : pro/con

pro : interpretable, allows profit optimization

con : sensitive to c&b + class priors

4
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ROC-curve pro/con

pro : independent of class proportions and costs and benefits, AUC

con : interpretability for stakeholders

5
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Cummulative responde or lift curve pro/con

pro : more intuitive than ROC

con : not robust to changes in class proportions