Four best performance measures

 

What are the 4 performance measures

Four performance measures includes:

Performance measures can vary depending on the specific context or domain you are referring to. However, in a general sense, there are several common performance measures that are often used across various fields. Here are four commonly used performance measures:

Accuracy:

Accuracy is a measure of how often a model or system correctly predicts or classifies instances. It is usually calculated as the ratio of the number of correct predictions to the total number of predictions. Accuracy is a straightforward and commonly used measure, particularly in classification tasks.

Precision:

Precision is a measure of the proportion of true positive predictions out of all positive predictions made by a model. It is calculated as the ratio of true positives to the sum of true positives and false positives. Precision is particularly useful when the cost of false positives is high, and it is important to minimize false alarms.

Recall:

Recall, also known as sensitivity or true positive rate, is a measure of the proportion of true positive predictions out of all actual positive instances. It is calculated as the ratio of true positives to the sum of true positives and false negatives. Recall is useful when the cost of false negatives is high, and it is important to capture as many positive instances as possible.

F1 Score:

The F1 score is a single metric that combines precision and recall into a harmonic mean. It provides a balanced measure that considers both precision and recall. The F1 score is calculated as 2 * (precision * recall) / (precision + recall). It is commonly used in situations where there is an imbalance between positive and negative instances.

These are just a few examples of performance measures, and there are many others that may be more relevant depending on the specific problem or application you are working with. It's important to select the appropriate performance measures based on the goals and requirements of your particular task.