Figure 4.12 Specify Profit Matrix Window
You can assign profit and cost values to each combination of actual and predicted response categories. To specify the costs of classifying into an alternative category, enter values in the Undecided column. To save your assignments to the response column as a property, check Save to column as property. Leaving this option unchecked applies the Profit Matrix only to the current Partition report.
When the response is binary, instead of entering weights into the profit matrix, you can specify a probability threshold in the Profit Matrix window. For details about how values are calculated for the profit matrix, see Profit Matrix in the Using JMP book.
When you define costs using the Specify Profit Matrix option and then select Show Fit Details, a Decision Matrix report appears. See Decision Matrix Report.
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Profit for <level>: For each level of the response, a column gives the expected profit for classifying each observation into that level.
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Most Profitable Prediction for <column name>: For each observation, gives the level of the response with the highest expected profit.
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Expected Profit for <column name>: For each observation, gives the expected profit for the classification defined by the Most Profitable Prediction column.
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Actual Profit for <column name>: For each observation, gives the actual profit for classifying that observation into the level specified by the Most Profitable Prediction column.
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