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:
“The women of my mother’s generation had, in the main, only one decision to make about their lives: who they would marry. From that, so much else followed: where they would live, in what sort of conditions, whether they would be happy or sad or, so often, a bit of both. There were roles and there were rules.”
—Anna Quindlen (20th century)
“As no one can tell what was the Roman pronunciation, each nation makes the Latin conform, for the most part, to the rules of its own language; so that with us of the vowels only A has a peculiar sound.”
—Henry David Thoreau (1817–1862)