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Lexikon


decision theory


A branch of statistics concerning strategies for decision making in non-ef="module.php?name=Lexikon&file=search&eid=1&query=deterministic">deterministic systems. Decision theory seeks to find strategies that maximise the expected value of a ef="module.php?name=Lexikon&file=search&eid=1&query=utility function">utility function measuring the desirability of possible outcomes. (1995-09-22)

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