Evaluating model performance of classification and regression models
In Chapter 5, you compared various models and assessed their performance using Root Mean Square Error (RMSE), R2, the time needed to train the model, and the time needed to calculate a prediction. That chapter focused on regression models. In this section, you will learn about the metrics to use for comparing models when performing classification tasks. To make a complete view and enable the use of this chapter as a reference in the future, we’ll include the metrics for regression models as well.
The reason different metrics are needed for the different tasks is that there are different types of data. In the case of a classification task, the model predicts which group a particular item belongs to. A regression model predicts the value of a target parameter. To measure how well the model predicts what is happening for these different tasks, different measurements are required. In this section, you will start...