Decision Theory

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Across
  1. 1. A situation where one strategy is better than another in all scenarios
  2. 4. Relating to a statistical method that updates probabilities based on evidence
  3. 5. Expected value calculated from all possible outcomes and probabilities
  4. 6. A measure of satisfaction or value used in decision making
  5. 8. The probability of an undesirable outcome
  6. 9. The difference between the payoff from the best decision and the chosen one
  7. 10. The outcome value resulting from a particular decision and state
Down
  1. 2. Strategy to maximize the minimum gain (pessimistic approach)
  2. 3. A situation where probabilities of outcomes are unknown
  3. 7. A diagram used to represent decisions and their possible consequences