Precision

link: https://en.wikipedia.org/wiki/Precision_and_recall range: (worse) [0-1] (better)

summary

$precision=\frac{\text{True positive}}{\text{True positive + False positive}}$

pros

• Use when the cost of false positives is high
  • e.g. Diagnosing a healthy person with a disease can lead to unnecessary treatment and expenses.

Cons