THEORETICAL QUESTIONS
  1. What is 'Statistical Decision Theory'?
  2. Enumerate the components of a problem.
  3. Enumerate the types of problems in decision making under different environment.
  4. Write short notes on the following:
    1. Statistical Decision Theory
    2. Deterministic Problems
    3. Stochastic Problems
    4. Problems under Uncertainty
    5. Maximax Decision Criterion
    6. Maxmin or Wald Decision Criterion
    7. Minimax Decision Criterion or Regret Criterion
    8. Hurwicz Criterion
    9. Laplace Decision Criterion
    10. Expected Monetary Value (EMV)
    11. Expected Regret
    12. Expected Value of Perfect Information (EVPI)
    13. Pay Off Table
    14. Regret Table

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