To test for the accuracy rate in a binary choice model, the number of correct classification observations for both outcomes should be reported.

Question

Quizplus · Accepted Answer

In a binary choice model, reporting the number of correct classification observations for both outcomes (e.g., positive and negative) is essential to assess the model's accuracy rate effectively. This involves comparing the model's predictions against actual outcomes to determine how often the model correctly predicts both the presence and absence of a condition or characteristic.

To Test for the Accuracy Rate in a Binary Choice