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A classification algorithm was used to predict Yes/No values for a given training data set, and then the results were applied to 100 observations in a testing data set. The actual Yes/No values and the estimated probabilities of Yes for these 100 observations are listed in the file P14_09.xlsx. Calculate the same accuracy measures as in Figure 14.20 and create the corresponding ROC curve. Comment on how you would use it for future classifications.
Practical Management Science
Solutions
Practical Management Science
A classification algorithm was used to predict Yes/No values for a given training data set, and then the results were applied to 100 observations in a testing data set. The actual Yes/No values and the estimated probabilities of Yes for these 100 observations are listed in the file P14_09.xlsx. Calculate the same accuracy measures as in Figure 14.20 and create the corresponding ROC curve. Comment on how you would use it for future classifications.
To calculate: The accuracy measures and create the ROC curve.
Introduction: Simulation model is the digital prototype of the physical model that helps to forecast the performance of the system or model in the real world.
Explanation of Solution
Accuracy measures:
Formulae to determine the accuracy measures:
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