Explain false negative, false positive, true negative and true positive with a simple example.

Let’s consider a scenario of a fire emergency:

True Positive: If the alarm goes on in case of a fire.
Fire is positive and prediction made by the system is true.
False Positive: If the alarm goes on, and there is no fire.
System predicted fire to be positive which is a wrong prediction, hence the prediction is false.
False Negative: If the alarm does not ring but there was a fire.
System predicted fire to be negative which was false since there was fire.
True Negative: If the alarm does not ring and there was no fire.
The fire is negative and this prediction was true.