The Gini coefficient is a good general-purpose measure of statistical dispersion. This post includes a thorough mathematical explanation of the Gini coefficient as well as a few non-standard use cases.
Math Applications
Designing an effective classification model requires an upfront selection of an appropriate classification metric. This posts walks you through an example of three possible metrics (accuracy, precision, and recall) while teaching you how to easily remember the definition of each one. Read More ›