Can you cite some examples where both false positive and false negatives are equally important?

DWQA QuestionsCategory: QuestionsCan you cite some examples where both false positive and false negatives are equally important?
1 Answers
Editor Staff answered 2 months ago

In the Banking industry giving loans is the primary source of making money but at the same time if your repayment rate is not good you will not make any profit, rather you will risk huge losses.
Banks don’t want to lose good customers and at the same point in time, they don’t want to acquire bad customers. In this scenario, both the false positives and false negatives become very important to measure.