Assume that two individuals offer to sell you their predictive models M1 and M2. The confusion matrices
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Question:
Assume that two individuals offer to sell you their predictive models M1 and M2. The confusion matrices produced by each model are as follows.
Predicted True
Predicted False
Actually True
5
95
Actually False
10
90
Performance of M1
Predicted True
Predicted False
Actually True
85
15
Actually False
95
5
Performance of M2
What is the accuracy of each model?
Assuming that precision is of paramount importance in your application, which of the two models would you buy? Why?
Assuming that the cost of labeling as True something that is actually False far exceeds the cost of labeling as False something that is actually True, which of the two models would you buy? Why?
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