Machine Learning for Business Professionals

Week 2 Day 6
Fairness in ML
Example: we have two groups of people, blue people, and orange
people.
We have to give them loans. A successful loan makes us a profit of $300
per loan, and an unsuccessful loan costs us a loss of $700 per loan, and
everyone has a credit score between zero and 100.

Different distributions
Texts in green are correct decisions, and text in read are wrong
decisions.
1. The light gray people are those who are denied loans and would
default anyhow.
2. The dark gray people are those who are denied loans, but they
wouldn't default.
3. The light blue and orange are those granted loans, but they
default
4. The dark blue and the orange, are those to whom we give a loan
and they paid back
Determining the appropriate unfairness definition
A check list of Bias-related issues

1. Products specifically use any of the following data, biometrics,

race, skin color, religion, sexual orientation, socioeconomic status,
income, country, location, health, language or dialect
2. Product use data that's likely to be highly correlated with any of
those personal characteristics
3. Product negatively affect individuals economic are important life
opportunities.