What defines a ranking prediction?

A ranking prediction specifically focuses on the arrangement or ordering of cases according to their predicted values. This involves using a predictive model to evaluate and assign numerical scores or values to cases, which are then utilized to sort or rank them. For instance, in scenarios where you might want to identify the top-performing products or the most likely customers to respond to a marketing campaign, ranking predictions help highlight the highest predictors based on the model outputs.

In contrast, classifying cases into distinct categories relates to categorical predictions, where outcomes are assigned to predefined groups rather than arranged in an order of magnitude. Estimating the likelihood of an event pertains to probabilistic predictions, which focus on quantifying how likely a certain outcome is, rather than creating a sorted list. Selecting the most informative inputs involves feature selection and is essential for model building, but it does not pertain directly to how predictions are ranked. Therefore, the essence of ranking predictions revolves around the orderly arrangement of cases by their predicted values, which aligns with the first option.