How deeply does Statistics Every Programmer Needs cover decision alternative?

Defines alternatives and places them in payoff tables, stopping short of broader decision-theory analysis.

Decision alternative

As explained in Statistics Every Programmer Needs

A decision alternative is one of the mutually exclusive courses of action available to a decision-maker.

A decision alternative is one mutually exclusive course of action available to a decision-maker. Exactly one alternative is selected, while states of nature determine its resulting payoff. section 10.1.1

Structure alternatives for decision analysis by:

Listing every available course of action. section 10.1.1
Identifying external states of nature that may affect outcomes. section 10.1.1
Recording the payoff for each alternative–state combination in a payoff table. section 10.1.1

Investment alternatives

Possible alternatives include Stock Market, Professional Soccer Club, a 50/50 combination, and Savings Account. Their payoffs vary between strong and weak economies, enabling comparison with the Maximax method.

How Statistics Every Programmer Needs covers it

Cover of Statistics Every Programmer Needs

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Related concepts

payoff tablepart of · A payoff table is a tabular structure listing decision alternatives, scenarios, and the payoffs associated with their combinations.
decision makingused by · Decision making is the process of selecting an action, outcome, or judgment from available alternatives based on information, objectives, or constraints.
command-line argumentcontrasts with · A command-line argument is a value supplied to a program when it is invoked, either as positional input or as an option that configures its behavior.

This explainer was generated by Manning's knowledge graph from the text of Statistics Every Programmer Needs. The section links point to the parts of the book it draws on.