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Performance Metrics: Misclassification Rate

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What is the Misclassification Rate?

The Misclassification Rate is a performance metric that tells you the fraction of the predictions that were wrong, without distinguishing between positive and negative predictions. The Misclassification Rate can be a very misleading metric when the data set is unbalanced (when the prevalence is either very high or very low).

The Misclassification Rate can be calculated as follows:

\frac{FN + FP}{TN + TP + FN + FP} = \frac{FN + FP}{P + N}