Business Analytics Quiz
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PREDICTIVE MODELING
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A lender compares two default classifiers on the same 1,0001{,}000 previously resolved loans. Model A produced 160160 true positives, 8080 false positives, 4040 false negatives, and 720720 true negatives. Model B produced 180180 true positives, 160160 false positives, 2020 false negatives, and 640640 true negatives. Each false negative is estimated to cost 500500 monetary units, while each false positive costs 4040 monetary units.
If these estimated error costs are the sole selection criterion, which model should the lender choose?
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