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Wharton

Department of Statistics

20

Are all prediction errors the same?

Symmetry

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Is over-predicting as costly as under-predicting?

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Managing inventories and sales

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Visible costs versus hidden costs

Does a false positive = a false negative?

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Classification in data mining

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Credit modeling, flagging “risky” customers

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False positive: call a good customer “bad”

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False negative: fail to identify a “bad”

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Differential costs for different types of errors

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