Given the Following Classification Confusion Matrix, What Is the Overall

question 14

Short Answer

Given the following classification confusion matrix, what is the overall error rate? $$\begin{array} { | l | c | c | } \hline { \text { Classification Confusion Matrix } } \\\hline & { \text { Predicted Class } } \\\hline \text { Actual Class } & 1 & 0 \\\hline 1 & 224 & 85 \\\hline 0 & 28 & 3,258 \\\hline\end{array}$$ ​
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Definitions:

Discounted Future Profits

The present value of the expected future earnings of a company, discounted at an appropriate rate to account for risk and time.

Antitrust Enforcement

The regulation and actions taken by the government to prevent monopolies and promote competition in the marketplace.

Vertical Relationships

Interactions and agreements between businesses at different stages of the production process, like suppliers and retailers.

Horizontal Contracts

Agreements between firms or entities at the same level of the market structure, often aimed at cooperation or co-marketing strategies.