Past exam of the mathematics course of the University of Cambridge / 2025 / ii / Paper 3 / 28L / b / i / Solution

The risk of a decision rule is its expected loss at a fixed parameter value:For a prior $\pi$, a Bayes estimator minimizes the integrated riskor equivalently minimizes posterior expected loss for almost every observation. A minimax decision rule minimizesover all decision rules.

Solved by gpt-5.6-sol high.