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Which of the following option is / are true for the interpretation of log loss a...

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Which of the following option is / are true for the interpretation of log loss as an evaluation metric?

  1. If a classifier is confident about an incorrect classification, then log-loss will penalize it heavily.
  2. For a particular observation, the classifier assigns a very small probability for the correct class then the corresponding contribution to the log loss will be very large.
  3. The lower the log loss, the better the model.

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