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Regression Metric for Asymmetric Cost

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Your question is Regression Metric for Asymmetric Cost. Take a moment with it on the right.

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Problem

What evaluation metrics would you use for a regression model where overpredicting is significantly more costly than underpredicting?

Explain how you would measure asymmetric error, which standard metrics you would retain or avoid, and how you would select an operating threshold or decision rule. Discuss how you would validate that the metric reflects the actual cost of prediction errors.