In statistics, decision theory and economics, a loss function is a function that maps an event onto a real number representing the economic cost or regret associated with the event.

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  • In statistics, decision theory and economics, a loss function is a function that maps an event onto a real number representing the economic cost or regret associated with the event. Less technically, in statistics a loss function represents the loss (cost in money or loss in utility in some other sense) associated with an estimate being "wrong" (different from either a desired or a true value) as a function of a measure of the degree of wrongness (generally the difference between the estimated value and the true or desired value.)
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  • M.S.
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  • L/l060900
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  • Nikulin
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  • Loss function
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  • In statistics, decision theory and economics, a loss function is a function that maps an event onto a real number representing the economic cost or regret associated with the event.
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  • Loss function
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