The Receiver Operating Characteristic (ROC) curve is a graphical representation of a model's diagnostic ability. It plots the True Positive Rate (Sensitivity) against the False Positive Rate (1 - Specificity) at various threshold settings. The Area Under the ROC Curve (AUC) quantifies the overall ability of the test to discriminate between the positive and negative classes. An AUC value ranges from 0 to 1, where a value closer to 1 indicates a better performing model.
