Describe how the confusion matrix is used for model evaluation.

Describe the definition of accuracy, precision, recall, sensitivity, specificity, True positive rate, False positive rate.

Synthesize real-life examples where you would rely on each one of these measures to evaluate prediction, or classification, performance of your model.

What is a Lift chart? Explain in what situations you would use it?

What is ROC chart? Explain in what situations you would use it?