STATISTICAL DECISION THEORY

Statistical science. This branch studies by Using data found to come to conclusions and to arrive at decisions. Specific equations are used to determine these choices. It is used to determine the most beneficial choice.

STATISTICAL DECISION THEORY: "Statistical decision theory deals with data and conclusions."
Cite this page: N., Pam M.S., "STATISTICAL DECISION THEORY," in PsychologyDictionary.org, April 13, 2013, https://psychologydictionary.org/statistical-decision-theory/ (accessed December 12, 2019).
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