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Most of standard learning algorithms have been designed for balanced data (the data with the same frequency of samples in each class), where the cost of wrong classification is the same within all classes.
In this paper we apply Bayesian decision-making approaches to conformity assessment, using a loss function to quantify the cost of wrong decisions and deriving optimal decision rules that minimise the expected loss.
In some cases, the cost of wrong classification can be very high in a sample of a special class, such as wrongly misclassifying cancerous individuals or patients as healthy ones.
In the face of increasing complexity, the opportunity cost of wrong focus is huge".
Similar(56)
Granted, trade can increase the cost of the wrong environmental policies.
So consider this a test of whether you're ultimately delusional about your risks and the cost of being wrong.
And as technology stocks' volatility has risen, so has the implied cost of a wrong market-timing decision.
But the cost of being wrong will fall not just on Germans but on the whole world.
Maybe they boost the cost of being wrong on a challenge, to discourage coaches from using them on every close call.
Further work to understand the cost of making wrong decisions regarding the RTT prediction problem, under the context of TCP, is needed.
These are very, very complex systems and involve a heavy capital investment, so the cost of being wrong gets to be very high..
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com