## Context You are working on a product team and building (or evaluating) a binary classifier that triggers an action (e.g., show a warning, block content, route to manual review, send a notification, or prioritize leads). ## Question 1. Explain **what precision and recall mean** in this business context. 2. For what types of business scenarios would you **prioritize precision over recall**? Give 2–3 concrete examples. 3. For what types of business scenarios would you **prioritize recall over precision**? Give 2–3 concrete examples. 4. Describe how you would **choose an operating threshold** (or decision rule) in practice, including: - the cost/benefit tradeoff and asymmetric error costs - capacity constraints (e.g., manual review bandwidth) - base-rate / class imbalance considerations - what metrics/curves you would look at (e.g., PR curve) - any guardrail metrics you would monitor after launch