Cost Analyses of inaccurate regression model
Hi,
I have built a model to estimate house prices, however I would like to classify the predictions as correct or incorrect based on a % difference with the correct price. Any idea how I can do that? I would then like to apply a cost and a benefit for every correct/incorrect prediction.
Kind regards,
Hauke
I have built a model to estimate house prices, however I would like to classify the predictions as correct or incorrect based on a % difference with the correct price. Any idea how I can do that? I would then like to apply a cost and a benefit for every correct/incorrect prediction.
Kind regards,
Hauke