CFA Practice Question

There are 155 practice questions for this study session.

CFA Practice Question

Here is a confusion matrix. What is the Type 1 error?

A. 0.95
B. 0.64
C. 0.91
Explanation: When it predicts yes, how often is it correct? Precision = TP/(TP + FP) = 100 / 110 = 0.91. It is useful in situations where the cost of FP, or Type 1 error, is high.

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