1.What is the difference between prediction models and classification models? Give examples.

2.What accuracy measures are used to evaluate the predictive performance of a classification model?

3.What accuracy measures are used to evaluate the predictive performance of a prediction model?

4.How can the problem of overfitting be addressed?

5.When oversampling procedure is used?

6.A classification model was developed to predict whether an accident is deadly. In a validation dataset of 500 observations there were 450 who survived.Using this dataset for predictive assessment, the model classified 40 accidents as deadly. Compute the sensitivity and interpret.

7.What is the prediction error in a prediction model? How can predictive performance be evaluated?