Comments on: How to Make a Decision with Bayes Decision Rule

By: Danielle@Robert F. Filcsik Photography

Danielle@Robert F. Filcsik Photography — Thu, 02 Jun 2011 09:07:22 +0000

Such sensible tips, Clay! I’m glad I ran into your post. However, I have a much simpler option, which I have been employing since my dad suggested it to me about 15 years ago. Whenever I need to make a decision which is somewhat confusing and complicated for me, I grab a piece of paper, draw a line straight down the middle and label one side “Cons” and the other “Pros.” The longer the list is for whichever side, the higher the probability that my decision will be influenced by it.

By: Sam@ Managed Hosting

Sam@ Managed Hosting — Mon, 24 Jan 2011 19:28:51 +0000

I’m terrible in making decisions! And usually, I talk myself out of whatever I’ve thought about in the first place. To be honest, a lot of how I decide is on the opinion of my mom. I know it sounds tacky, but I’m the person that weighs everything in necessity. Do I really need it? Is it really going to benefit me? As I do that, I weigh the pros and cons, but then somehow con myself out of it. A fresh eyes with more knowledge really helps making important decisions, because it’s a different perspective- even if it’s a mother’s.

By: John Kohl@financial planning for retirement

John Kohl@financial planning for retirement — Mon, 10 Jan 2011 23:18:15 +0000

Very interesting formula you have there. It seems that in the beginning it might be a bit more time consuming to use it towards smaller decisions but once I get used to it after applying it to larger decisions, I’m sure I’ll be able to do it in my head for the smaller decisions. Thanks for the great blog post!

By: Sarah@Lauren Clark Photography

Sarah@Lauren Clark Photography — Tue, 21 Dec 2010 18:03:37 +0000

your article is practical but its good, thanks for the post !

By: aretha@faxless payday loans

aretha@faxless payday loans — Thu, 25 Nov 2010 05:28:54 +0000

This kind of makes my head hurt…that’s just the gin, nevermind! LOL

By: Katie

Katie — Sun, 07 Nov 2010 18:18:02 +0000

Jenny who are you????? I see you are leaving comments all over the web as if it is from me and my site?

By: Mel@Melissa Skidmore Photography

Mel@Melissa Skidmore Photography — Mon, 01 Nov 2010 21:48:45 +0000

I can there’s no harm in trying the Bayes Decision in weighing things out. This will help us in checking what issues to prioritize and take sides.

By: Jenny@Katie Beyer Photography

Jenny@Katie Beyer Photography — Wed, 27 Oct 2010 19:02:05 +0000

Impressive idea. I believe it takes a lot of practice before you can apply and master this rule without a pen and paper. I always go for practicality. Weigh things out according to the importance of such situations.

By: new homes in coeur d'alene

new homes in coeur d'alene — Thu, 21 Oct 2010 15:11:14 +0000

For classification, it is known that the Bayes decision rule is the best decision rule, which gives the minimum probability of misclassification. It is difficult to use the Bayes decision rule, since it contains unknown parameters from each class. A Bayesian decision maker proceeds by assigning a numerical utility to each of the possible consequences of an action, and a probability to each of the uncertain events that may affect that utility. The weighted average of the utility with respect to the probability is then used as the criterion of choice. In statistical decision theory, this plan can be applied to actions that represent inferences, predictions, or conclusions to be drawn from experimental evidence. Decision theory enables statisticians to bring basic principles of rationality to bear on both the development and the evaluation of statistical methodologies.

By: Clay Franklin

Clay Franklin — Thu, 14 Oct 2010 07:53:52 +0000

Victoria, I usually do lots of research also. I even find I analyze some small cost purchases sometimes more than expensive ones like a car. It does not make sense, its just what I have found happens. Analytics vs. emotions.