Precision

Precision is defined as the percentage of true positive cases versus all the cases where the prediction is true.

Note*: A model with high precision is trustworthy.

the formula for Precision rate is :

OR

For example:

Let us assume that you developed an AI model that tests pooled specimen(blood/urine etc.) to diagnose some ailment (say covid). After its training with sample collection of specimens whose accurate results were known to you, post testing, you are now ready to evaluate your AI model. For your AI model, you conduct about 630 tests and the confusion matrix with these 630 tests results looked like:

SOLUTION

As per the problem, we applied a formula to find precision as-

OR

Thus, the Precision rate for our sample AI model is 64.7058824 % or 0.64706