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Analytics: For supervised learning classifiers, define these goodness of fit measures: (a) accuracy and (b) loss...

Analytics: For supervised learning classifiers, define these goodness of fit measures: (a) accuracy and (b) loss function.

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a) accuracy - It means how accurate are the expected values in comparison with the actual values . Thereby indicating how correct the initial assessment is.

b) Loss function- It is typically the difference between the expected and actual values. It implies the correctness of the entire estimation and execution of process.

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