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When talking about errors arguing about error probabilities is not enough. One need to take into account costs of error. A better metric would be "expected cost
by lr1970 4y ago
When talking about errors arguing about error probabilities is not enough. One need to take into account costs of error. A better metric would be "expected cost of error" that multiplies error probabilities by costs of errors (and sums them up). If a system has 0.1% rate of error placing a pizza order it could be deemed OK. If it kills a patient 0.1% of the time it is unacceptble.