Question

__________ provides ways and means of weighing up the desirability of goals and the likelihood of achieving them.
A. Decision Theory
B. Utility Theory
C. Probability Theory
D. Bayesian Networks

Answer 1

Answer:

Bayesian Decision Theory

4.1 Introduction

Bayesian decision theory is a fundamental statistical approach to the problem of pattern classification. It is considered the ideal case in which the probability structure underlying the categories is known perfectly. While this sort of stiuation rarely occurs in practice, it permits us to determine the optimal (Bayes) classifier against which we can compare all other classifiers. Moreover, in some problems it enables us to predict the error we will get when we generalize to novel patterns.

This approach is based on quantifying the tradeoffs between various classification decisions using probability and the costs that accompany such decisions. It makes the assumption that the decision problem is posed in probabilistic terms, and that all of the relevant probability values are known.

Let us re­consider the hypothetical problem posed in Chapter 1 of designing a classifier to separate two kinds of fish: sea bass and salmon. Suppose that an observer watching fish arrive along the conveyor belt finds it hard to predict what type will emerge next and that the sequence of types of fish appears to be random. In decision-theoretic terminology we would say that as each fish emerges nature is in one or the other of the two possible states: Either the fish is a sea bass or the fish is a salmon. We let w denote the state of nature, with w = w1 for sea bass and w = w2 for salmon. Because the state of nature is so unpredictable, we consider w to be a variable that must be described probahilistically

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Answer 2

Decision Theory provides ways and means of weighing up the ‘desirability of goals’ and the ‘likelihood of achieving them’.

Option: A

Explanation:

• Decision theory can be defined as a theory of desires, beliefs, and other related attitudes as it can be said as a theory of a choice.  

• It provides ways of weighing up the desirability of goals and the likelihood.

• According to this theory, what matters is how the various preference based attitudes are stick together. It is the study of an agent’s choices.

• It can be classified as two branches as normative decision theory and ‘descriptive decision theory’.    

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