Question 10
Suppose you are building a credit card fraud detection system and have two approaches: (i) Manually writing rules such as "If transaction amount is above Rs. 50,000 and the location is overseas, mark it as fraud.” (ii) Training a model using millions of past transactions labeled as fraud or not fraud. Which of the following options is/are correct?
Approach (i) is not machine learning.
Approach (ii) is machine learning.
Both approaches are machine learning.
Neither approach is machine learning.