Classification Rule

Subject: Business Statistics | Topics:

This article describe about Classification Rule, which is a procedure in the elements of the population set are each assigned to one of the classes. Classification Rule have been developed specifically for binary classification, multiclass classification often requires the combined use of multiple binary classifiers. An important point is that in many practical binary classification problems, the two groups are not symmetric – rather than overall accuracy, the relative proportion of different types of errors is of interest. In this article Binary classification methods include probit regression and logistic regression. Multiclass classification methods include multinomial probit and multinomial logit.

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