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Which classification method targets business outcomes with only two possible results?

  1. Multiclass Classification

  2. Regression Analysis

  3. Binary Classification Methods

  4. Time Series Analysis

The correct answer is: Binary Classification Methods

The correct answer focuses on binary classification methods, which are specifically designed to address scenarios where there are only two possible outcomes or classes. This type of analysis is particularly useful when decisions or predictions can be headed in one of two directions, such as pass/fail, yes/no, or true/false. In each case, the outcome is limited to these distinct categories, making the binary classification method an ideal choice for businesses looking to achieve specific outcomes based on predictive modeling. Other methods mentioned, such as multiclass classification, allow for multiple possible outcomes beyond two. Regression analysis deals with predicting numerical values rather than classifying outcomes into distinct categories, thereby not fitting the criteria of only having two results. Time series analysis, on the other hand, focuses on forecasting future values based on previously observed values over time, which also does not apply to situations limited to two possible classifications. Thus, binary classification methods accurately reflect the requirement of targeting business outcomes that yield just two possible results.