Doesn’t this only work if the logic of the situation is transparent? Or maybe I’m misunderstanding what you mean by the logic of the situation. Are you trying to say “Keep in mind the counterfactual situations in which you might make various decisions and then determine which situation you are in?”
Or maybe “determine your policy in all statistically likely scenarios then determine which scenario you are in”
Statistics Question here.
In a binomial distribution why is it useful to check if N * phat > 5 AND N * (1 - phat) > 5 when determining if it is a normal distribution?
where:
N = number of samples
phat = number of successes / N