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Measure Model Calibration

HardModel Evaluation00:00
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Your question is Measure Model Calibration. Take a moment with it on the right.

Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).

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Problem

Scenario

You have a model that outputs probabilities, and the team wants to know whether those scores mean what they say. The model may rank cases well, but the question is whether a predicted 0.80 really corresponds to about an 80% event rate.

Question

How would you measure whether a model is calibrated?