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Odds Algorithm: Optimal Stopping, Odds, Optimization, Poisson Process, Clinical Trial, Secretary Problem, Portfolio, Maintenance, Maintenance, Repair and Operations -

English
2026-03-16
€156.58 €195.73

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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The odds-algorithm is a mathematical method to compute optimal strategies for a class of problems which belong to the domain of optimal stopping. Its solution determines the odds-strategy, and the importance of the odds-strategy lies in its optimality, as explained below. The odds- ... Full description

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The odds-algorithm is a mathematical method to compute optimal strategies for a class of problems which belong to the domain of optimal stopping. Its solution determines the odds-strategy, and the importance of the odds-strategy lies in its optimality, as explained below. The odds-algorithm applies to a class of problems called last-success- problems. Formally the objective is to maximize the probability of identifying in a sequence of sequentially observed independent events a last specific event. This identification must be done on-line, that is, at the time of observation. No recall on preceding observations is permitted. Usually a specific event is defined by the decision maker as an event which is of true interest to her/him in the view of "stopping" in order to take a well-defined action. Such problems are encountered in several real-world situations.

More Information

Publisher OmniScriptum
Release year 2026
Cover type Softcover
EAN 9786130399207
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€156.58 €195.73