This picture speaks more than words. It explains the concept or false positive and false negative, that is, what is referred to by statisticians as Type I and Type II errors.

Other great pictures summarizing data science and statistical concepts, can be found here and also here. 

DSC Resources

• Services: Hire a Data Scientist | Search DSC | Classifieds | Find a Job
• Contributors: Post a Blog | Ask a Question
• Follow us: @DataScienceCtrl | @AnalyticBridge

Popular Articles

• Difference between Machine Learning, Data Science, AI, Deep Learnin...
• What is Data Science? 24 Fundamental Articles Answering This Question
• Hitchhiker's Guide to Data Science, Machine Learning, R, Python
• Advanced Machine Learning with Basic Excel