A loss function is a real lower-bounded function L on Θ × A for some θ ∈ Θ. The value L(θ, δ(X)) is the cost of action δ(X) under parameter θ.
Read more about Loss Function: Decision Rules, Expected Loss, Selecting A Loss Function, Loss Functions in Bayesian Statistics, Regret, Quadratic Loss Function, 0-1 Loss Function
Famous quotes containing the words loss and/or function:
“Nothing that grieves us can be called little: by the eternal laws of proportion a child’s loss of a doll and a king’s loss of a crown are events of the same size.”
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“Science has fulfilled her function when she has ascertained and enunciated truth.”
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