What is the misclassification rate and what is it's importance?

Nominal Logistic Fit for deposit Effect Summary ictor Variables Source LogWorth PValue duration 788.674 0.00000 month 138.704 0.00000 poutcome 136.123 0.00000 contact 63.931 0.00000 housing 30.929 0.00000 campaign 11.432 0.00000 job 10.212 0.00000 loan 9.760 0.00000 marital 5.215 0.00001 ables in the dataset Remove Add Edit OFDR Converged in Gradient, 6 iterations Iterations all model is significant in Whole Model Test Model -LogLikelihood DF ChiSquare Prob>ChiSq Difference 3148.9065 33 6297.813 <.0001 full ting the deposit: reduced housing campaign job fit details measure training definition entropy rsquare ed by confusion generalized mean p rase v matrix abs dev lyli misclassification rate n predicted lack of actual count source df chisquare deposit yes no saturated prob>ChiSq no 857 5016 Fitted 33 4572.7178 1.0000