In the documentation for the confusion matrix method in the caret package, the p-value is described as:
a one-sided test to see if the accuracy is better than the "no information rate," which is taken to be the largest class percentage in the data.
But what precisely is "a one sided test" here? I am assuming some p-value test between the accuracy and NIR. Specifically, what does "better than the NIR" mean?
Moreover, am I correct to assume that "the largest class percentage in the data" could be computed as number of tuples with most common class label / total number of tuples?