Decision Rules
A decision rule makes a choice using an optimality criterion. Some commonly used criteria are:
- Minimax: Choose the decision rule with the lowest worst loss — that is, minimize the worst-case (maximum possible) loss:
- Invariance: Choose the optimal decision rule which satisfies an invariance requirement.
- Choose the decision rule with the lowest average loss (i.e. minimize the expected value of the loss function):
Read more about this topic: Loss Function
Famous quotes containing the words decision and/or rules:
“Concision in style, precision in thought, decision in life.”
—Victor Hugo (1802–1885)
“... geometry became a symbol for human relations, except that it was better, because in geometry things never go bad. If certain things occur, if certain lines meet, an angle is born. You cannot fail. It’s not going to fail; it is eternal. I found in rules of mathematics a peace and a trust that I could not place in human beings. This sublimation was total and remained total. Thus, I’m able to avoid or manipulate or process pain.”
—Louise Bourgeois (b. 1911)