Question

In statistical decision theory, the decision
maker does not have any control on
​

Answer 1

Answer:

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Answer 2

They do not have any control over states of nature.

• Procedures for selecting optimal decisions in the face of uncertainty are used in decision analysis.
• States of nature are the potential outcomes in a decision situation about which the decision maker has no power.
• If there are more than two potential future results, the best decision from a finite set of alternatives must be selected.
• Every situation is included in likely states of nature, and are described so that only one of them can occur.