Chapter 2: The Decision Matrix Flashcards

1
Q

Before making a decision, you should decided what are the relevant ___________, __________, and _____________.

A

acts; states; outcomes

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2
Q

Decision Matrix

A

Visualizes a formal representation of a decision problem, graphically.

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3
Q

Decision Tree

A
  • More convenient than Decision Matrix
  • Visualizes a formal representation of a decision problem, graphically.
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4
Q

Decision Tree Structure

A

1) Choice Node (square): You decide to go up or down.
2) Chance Node (circle): Acts
– intermittent: states–
3) Possible Outcomes (squares)

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5
Q

Decision trees represent…

A

sequential decision problems.

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6
Q

If you want to add more to the decision tree, you add to the rightmost __________ (leaves).

A

boxes

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7
Q

3 Levels of Abstraction w/ Decision Matrices / Trees

A

1) Decision Problem
2) Formalization of Decision Problem
3) Visualization of the Formalization.

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8
Q

Formalization of Decision Problem

A
  • Made of information about decision being made
  • Comprised of information on decision problem’s acts, states, & outcomes.
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9
Q

How should we symbolize decision problems?

A

We should prefer to symbolize decision problems as Decisions Under Risk (we know the potential outcomes), NOT Decisions Under Ignorance.

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10
Q

Vector

A

Ordered List of Mathematical Objects

1st Vector: Acts
2nd Vector: States
3rd Vector: Outcomes

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11
Q

State

A

Part of the world that is not an act or an outcome.

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12
Q

It is _________ a good idea to formalize your decision problem ___________ using ___________.

A

NOT; without; states

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13
Q

**The __________ of an outcome should be ___________ ____________ of whether or not the __________ actually occurs.

A

value; casually independent; state

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14
Q

Outcomes of decision problems HAVE to be ____________ from _________ to __________.

A

ranked; worst; best

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15
Q

Utilities (Value)

A

(aka Values until Ch. 5)
Numbers that assign comparative evaluations of value.

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16
Q

Ordinal Scale

A
  • Measure objects without making comparisons to differences and ratios between measurement points across all transformations of scale.
  • Numbers merely reflect preferfable qualitative ranking, not the degree of HOW MUCH you prefer one thing over another.
  • Doesn’t specify the quantitative distance between numerical rankings.
17
Q

Ordinal Scales are ______________ up to ________________ ________________ _____________. This means ____________ of the _____________ in the original scale of the objects is ______________. This change is represented by “___(___) ≥ ____(___) if and only if ____ ≥ _____.”

A

invariant; positive monotone transformation; order; outcomes; preserved; f(x) ≥ f(y); x ≥ y.

18
Q

Cardinal Scales

A
  • Embody more information than cardinal scales.
  • Measure objects numerically, and all differences and ratios between measurement points are preserved across transformations of scale.
19
Q

Interval Scales

A
  • Measure objects numerically, and preserves (& accurately reflects) all differences between measurement points across transformation of scale.
20
Q

Unlike ____________ scales, interval scales aren’t based on _____________ / _____________ ranking.

A

Ordinal; qualitative; preferential

21
Q

Interval Scales are ____________ up to _____________ ______________ ______________. This means the ____________ of the ___________ in the scale will be preserved across transformation if the scale values are multiplied by a _______________ number added by a ____________. This preserves the scale without ____________ or ______________ anything. This can be represented by “____=___ ____ + ____

A

invariant; positive linear transformation; ordering; outcomes; positive; constant; gaining; losing; y=ax+b

f’(x)= k * f(x) + m

22
Q

A function ____ that returns a real number _____ is an __________ ______________ iff. condition 1 [ __(__) ≥ ___(__) iff. ___ ≥ ___ ] is met AND for every function _____ there is a positive number ___ and a constant ____. This is represented by ___(__)= ___ * __(__) + __. This represents all transformations that are _________________ under positive linear transformation.

A

f; x; interval scale; f(x) ≥f (y); f’; k; m; f’(x)= k * f(x) + m; PERMISSABLE

23
Q

Interval Scales accurately reflect _____________, NOT _________.

A

differences; ratios

24
Q

For a positive linear transformation to be permissable for in interval scale, the ratio of ____________ between _____________ ____________ must be preserved.

A

differences; measurement points

25
Q

Examples of interval Scales:

Temperature is something that can be transformed on the interval scale–

New York– 32° F
Tokyo– 64° F

The claim _________ be made under positive linear transformation that “it’s _______ as warm in Tokyo as it is in New York.”

This is because though 32 x 2= 64, at Celcius their temperatures are different: 0°C and 17.8°C respectively. 0°C x 2 ≠ 17.8°C

A

cannot; twice

26
Q

Ratio Scale

A
  • Measures objects numerically such that all ratios between measurement points are preserved across transformation process of scale.
27
Q

Ratio scales accurately reflect _____________, unlike interval scales.

A

ratios.

28
Q

Ratio Scales are __________________ up to ______________ by a ____________ ____________. The ______________ of _______________ will be preserved across transfromation of the scale when the scale values are multiplied by a __________ ______________. This can be represented by “___=____ ____.”

A

invariant; multiplication; positive constant; ordering of the outcome; positive constatn; y=mx

f’(x)= k * f(x)

29
Q

A function ____ that returns a real number _____ is an __________ ______________ iff. condition 1 [ __(__) ≥ ___(__) iff. ___ ≥ ___ ] is met AND for every function _____ there is a positive constant ____. This is represented by ___(__)= ___ * __(__). This represents all transformations that are _________________ under multiplication by a positive constant.

A

f; x; ratio scale; f(x) ≥f (y); f’; k; f’(x)= k * f(x); PERMISSABLE

30
Q

Why is it that Interval Scales uses the “+b” in their equation (y=mx+b) representing positive linear transformation, but Ratio Scales doesn’t use the “+b” in their equation representing multiplication by a positive constant?

A

In interval scales, the +b represents an arbitrary zero point on the graph in transformations. Meaning, across transformation from one scale to another, 0 could change into a completely different value (ARBITRARY).

+b for ratio scale transformations means the zero point is fixed. Meaning, across transformation to different scales, zero stays zero.

31
Q

Examples of Ratio Scales:

Mass and length can be transformed in ratio scales–

1 mile x 1.61 km/ 1mile = 1.61 km

10 mile x 1.61 km/ 1 mile = 16.1 km

20 miles x 1.61 km/ 1 mile = 32.2 km

Here, we take the scale values given to us, and multiply by a ____________ ______________.

A

positive constant

32
Q

Act

A
  • Function from a set of states to a set of outcomes.
  • Device that transforms the state of the world to another state.
33
Q

Generic Acts

A

Instantiated by different agents at different time intervals.

-anyone could do these actions at any given moment (i.e. walking, swimming, sailing etc)

  • Columbus voyaging to the Americas and Cook to the Southern Hemisphere are both instantiations of the same generic act: sailing
34
Q

Particular Acts

A

Instantiated by specific agents at specific time intervals.

  • Columbus voyaging specifically to the Americas at the time he did, whilst James Cook voyaged to the Southern Hemisphere at the time he did are separate instantiations of a particular act.
35
Q

Alternative Act:
The set A is an “alternative set” iff.

  • every member of A is a particular act.
  • A has at least ___ different members (has to be at least ___ available actions)
  • the members of A should be…
  • _________-identical (same __________should be doing the alternative)
  • _________-identical (the acts should have taken place at the same ______)
  • performable
  • incompatible in _______ (can’t be done simoultaneously)
  • jointly exhaustive (at least one of the events has to happen).
A

particular; 2; 2; agent; person; time; time; pairs;

36
Q

There are particular acts that are apart of a ______-____________ set.

A

non-identical

37
Q

Rival Formalizations

A

Arises when 2+ formalizations are equally reasonable & better than all other formalizations.