ASSIGMENT # 306
January 5th, 2018
ASSIGMENT # 306Q : 1 What is meant by the & possible states of nature? ( briefly answer)Q:2What is meant by & prior probabilities?&;(Briefly answer)Q:3What do & payoffs & represent in a payoff table?( briefly answer)Q:4What are some criticisms of maximax criterion?( briefly answer)Q:5What are some criticisms of Bayes’ decision rule?( briefly answer)Q:6 What are some criticisms of maximin criterion?( briefly answer)