Question: Outline methods for addressing the class imbalance problem . Suppose a bank would like to develop a classifier that guards against fraudulent credit card transactions.

Outline methods for addressing the class imbalance problem. Suppose a bank would like to develop a classifier that guards against fraudulent credit card transactions. Illustrate how you can induce a quality classifier based on a large set of non-fraudulent examples and a very small set of fraudulent cases.

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