What is utility theory in statistics?

Related questions

1. What is utility explain?
2. What is utility in decision making?
3. What functions do utility programs serve?
4. What is utility maximizing rule?
5. What does a utility function reflect?
6. What is the relationship between total utility and marginal utility?
7. What is the difference between marginal utility and total utility?
8. How much are utilities monthly?
9. Is utility easy to measure?
10. When total utility increases marginal utility is?

Tags

1. #reaching
2. #decision
3. #probabilistic
4. #expressed
5. #outcome
6. #assigned
7. #known
8. #outcomes
9. #value
10. #consequences
11. #quantitative
12. #preferences
13. #optimal
14. #methods
15. #based
16. #maker
17. #statistics
18. #theory
19. #decisions
20. #general
21. #utility
22. #certainty