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Compute the sensitivity, specificity and overall accuracy based on the following classification table to predict Fraud. Interpret the performance of the predictive model. What other metrics would you consider before accepting the model? If the cost of predicting Not Fraud as Fraud is ten times higher than cost of predicting Fraud as Not Fraud, compute the total cost of the model. Comment on performance based on the cost.
Predicted
Actual
Not Fraud
Fraud
232
58
200
300
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