The objective of the project is to develop a solution to classify wine quality (multi-class classification problem) of the wine. To evaluate the financial viability of the solution, assume that current quality requires the hiring of a wine expert that would cost $1500 to assess wine quality.
I need help in evaluating the feasibility of the best classification model (include total penalty if applying a penalty of -$5 if assigned each time the wine’s quality is misclassified.
I have my workflow started and the models, but am stuck in how to add the penalty etc.
Thank you, I am using KNN Decision Tree and Random Forest algorithms in my model (need to decide which one is the best) From here is where I am stuck? I don’t know what to use to add the penalty?
sorry for the late reply, I´m on maternity leave and not often on my work station.
Could you share your workflow and the dataset than we look what we can do for you.