Expected Loss
The value of the loss function itself is a random quantity because it depends on the outcome of a random variable X. Both frequentist and Bayesian statistical theory involve making a decision based on the expected value of the loss function: however this quantity is defined differently under the two paradigms.
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Famous quotes containing the words expected and/or loss:
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They were those from the wilderness of stars that had expected more.
There were those that returned to hear him read from the poem of life,
Of the pans above the stove, the pots on the table, the tulips among them.
They were those that would have wept to step barefoot into reality....”
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