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.