What is Misclassification rate?
Misclassification Rate measures the overall proportion of observations that were wrongly classified or mis-classified.
accuracy
What is Accuracy?
Accuracy is the most straight-forward evaluation metric for a classification problem, and it simply measures the overall proportion of observations that were correctly classified.
How would you evaluate a classification based model using a Confusion Matrix?
One of the most useful tools for evaluating the performance of any classification algorithm is the confusion matrix.