Question: Make up an example of a decision problem in your area of interest which is somewhat similar to the example in Section 7.6. Formulate several

Make up an example of a decision problem in your area of interest which is somewhat similar to the example in Section 7.6. Formulate several decision rules and try to decide among them on the basis of

(a) the minimax-loss criterion

(b) the expected loss criterion

(c) the subjective expected loss criterion.

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