Statistics > QUESTIONS & ANSWERS > University of Texas STA STA 309 Please look at the attached sheet and let me know if you can answ (All)
University of Texas STA STA 309 Please look at the attached sheet and let me know if you can answer question C and D. Consider Figure 5.14, the decile-wise lift chart for the
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Question Please look at the attached sheet and let me know if you can answer question C and D. Consider Figure 5.14, the decile-wise lift chart for the transaction data model, applied to new... data. a. Interpret the meaning of the first and second bars from the left. b. Explain how you might use this information in practice. c. Another analyst comments that you could improve the accuracy of the model by classifying everything as non-fraudulent. If you do that, what is the error rate? d. Comment on the usefulness, in this situation, of these two metrics of model performance (error rate and lift). [Show More]
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