Point Predictions
A point prediction for a label ⚠ $y\in\mathbf{Y}$
(and element of a label space ⚠ $\mathbf{Y}$
) is an element ⚠ $\hat y\in\mathbf{Y}$
. The quality of the point prediction ⚠ $\hat y$
is measured by a distance between ⚠ $\hat y$
and the actual label ⚠ $y$
. Other kinds of predictions used in conformal prediction are prediction sets and predictive distributions. In competitive on-line prediction, much more general predictions are used: see game of prediction.