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Decision theory is the science of making optimal decisions in the face of uncertainty. Statistical decision theory is concerned with the making of decisions when in the presence of statistical knowledge (data) which sheds light on some of the uncertainties involved in the decision problem.

4 votes

The Sleeping Beauty Paradox

Non-statistially In all her congenial geniousness, Sleeping Beauty can perform the hypothetical experiment in her sleep, which will shape her believes: import numpy as np # Take clones of our Sle …
Ytsen de Boer's user avatar