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.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“To make us feel small in the right way is a function of art; men can only make us feel small in the wrong way.”
—E.M. (Edward Morgan)