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Odds Algorithm
The odds algorithm (or Bruss algorithm) is a mathematical method for computing optimal strategies for a class of problems that belong to the domain of optimal stopping problems. Their solution follows from 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 in these problems is to maximize the probability of identifying in a sequence of sequentially observed independent events the last event satisfying a specific criterion (a "specific event"). This identification must be done at the time of observation. No revisiting of preceding observations is permitted. Usually, a specific event is defined by the decision maker as an event that is of true interest in the view of "stopping" to take a well-defined action. Such problems are encountered in several situations. Examples Two different situations exemplify the interes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Optimal Stopping
In mathematics, the theory of optimal stopping or early stopping : (For French translation, secover storyin the July issue of ''Pour la Science'' (2009).) is concerned with the problem of choosing a time to take a particular action, in order to maximise an expected reward or minimise an expected cost. Optimal stopping problems can be found in areas of statistics, economics, and mathematical finance (related to the pricing of American options). A key example of an optimal stopping problem is the secretary problem. Optimal stopping problems can often be written in the form of a Bellman equation, and are therefore often solved using dynamic programming. Definition Discrete time case Stopping rule problems are associated with two objects: # A sequence of random variables X_1, X_2, \ldots, whose joint distribution is something assumed to be known # A sequence of 'reward' functions (y_i)_ which depend on the observed values of the random variables in 1: #: y_i=y_i (x_1, \ldots ,x ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Odds
Odds provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce that outcome to the number that do not. Odds are commonly used in gambling and statistics. Odds also have a simple relation with probability: the odds of an outcome are the ratio of the probability that the outcome occurs to the probability that the outcome does not occur. In mathematical terms, where p is the probability of the outcome: :\text = \frac where 1-p is the probability that the outcome does not occur. Odds can be demonstrated by examining rolling a six-sided die. The odds of rolling a 6 is 1:5. This is because there is 1 event (rolling a 6) that produces the specified outcome of "rolling a 6", and 5 events that do not (rolling a 1,2,3,4 or 5). The odds of rolling either a 5 or 6 is 2:4. This is because there are 2 events (rolling a 5 or 6) that produce the specified outcome of "rolling either a 5 or 6", and 4 events that do n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Optimization Algorithms And Methods
Mathematical optimization (alternatively spelled ''optimisation'') or mathematical programming is the selection of a best element, with regard to some criterion, from some set of available alternatives. It is generally divided into two subfields: discrete optimization and continuous optimization. Optimization problems of sorts arise in all quantitative disciplines from computer science and engineering to operations research and economics, and the development of solution methods has been of interest in mathematics for centuries. In the more general approach, an optimization problem consists of maximizing or minimizing a real function by systematically choosing input values from within an allowed set and computing the value of the function. The generalization of optimization theory and techniques to other formulations constitutes a large area of applied mathematics. More generally, optimization includes finding "best available" values of some objective function given a define ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sciences Et Technologies De L'automation
Science is a systematic endeavor that builds and organizes knowledge in the form of testable explanations and predictions about the universe. Science may be as old as the human species, and some of the earliest archeological evidence for scientific reasoning is tens of thousands of years old. The earliest written records in the history of science come from Ancient Egypt and Mesopotamia in around 3000 to 1200 BCE. Their contributions to mathematics, astronomy, and medicine entered and shaped Greek natural philosophy of classical antiquity, whereby formal attempts were made to provide explanations of events in the physical world based on natural causes. After the fall of the Western Roman Empire, knowledge of Greek conceptions of the world deteriorated in Western Europe during the early centuries (400 to 1000 CE) of the Middle Ages, but was preserved in the Muslim world during the Islamic Golden Age and later by the efforts of Byzantine Greek scholars who brought Greek man ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Applied Probability
A journal, from the Old French ''journal'' (meaning "daily"), may refer to: *Bullet journal, a method of personal organization *Diary, a record of what happened over the course of a day or other period *Daybook, also known as a general journal, a daily record of financial transactions *Logbook, a record of events important to the operation of a vehicle, facility, or otherwise *Record (other) *Transaction log, a chronological record of data processing *Travel journal In publishing, ''journal'' can refer to various periodicals or serials: *Academic journal, an academic or scholarly periodical **Scientific journal, an academic journal focusing on science **Medical journal, an academic journal focusing on medicine **Law review, a professional journal focusing on legal interpretation *Magazine, non-academic or scholarly periodicals in general **Trade magazine, a magazine of interest to those of a particular profession or trade **Literary magazine, a magazine devoted to literat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas S
Thomas may refer to: People * List of people with given name Thomas * Thomas (name) * Thomas (surname) * Saint Thomas (other) * Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church * Thomas the Apostle * Thomas (bishop of the East Angles) (fl. 640s–650s), medieval Bishop of the East Angles * Thomas (Archdeacon of Barnstaple) (fl. 1203), Archdeacon of Barnstaple * Thomas, Count of Perche (1195–1217), Count of Perche * Thomas (bishop of Finland) (1248), first known Bishop of Finland * Thomas, Earl of Mar (1330–1377), 14th-century Earl, Aberdeen, Scotland Geography Places in the United States * Thomas, Illinois * Thomas, Indiana * Thomas, Oklahoma * Thomas, Oregon * Thomas, South Dakota * Thomas, Virginia * Thomas, Washington * Thomas, West Virginia * Thomas County (other) * Thomas Township (other) Elsewhere * Thomas Glacier (Greenland) Arts, entertainment, and media * ''Thomas'' (Burton novel) 1969 novel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Mathematical Society
The European Mathematical Society (EMS) is a European organization dedicated to the development of mathematics in Europe. Its members are different mathematical societies in Europe, academic institutions and individual mathematicians. The current president is Volker Mehrmann, professor at the Institute for Mathematics at the Technical University of Berlin. Goals The Society seeks to serve all kinds of mathematicians in universities, research institutes and other forms of higher education. Its aims are to #Promote mathematical research, both pure and applied, #Assist and advise on problems of mathematical education, #Concern itself with the broader relations of mathematics to society, #Foster interaction between mathematicians of different countries, #Establish a sense of identity amongst European mathematicians, #Represent the mathematical community in supra-national institutions. The EMS is itself an Affiliate Member of the International Mathematical Union and an Associate Membe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Annals Of Probability
The ''Annals of Probability'' is a leading peer-reviewed probability journal published by the Institute of Mathematical Statistics, which is the main international society for researchers in the areas probability and statistics. The journal was started in 1973 as a continuation in part of the ''Annals of Mathematical Statistics'', which was split into the ''Annals of Statistics'' and this journal. In July 2021, the journal was ranked 7th in the field Probability & Statistics with Applications according to Google Scholar. It had an impact factor of 1.470 (as of 2010), according to the ''Journal Citation Reports''. The impact factor for 2018 is 2.085. Its CiteScore is 4.3, and SCImago Journal Rank is 3.184, both from 2020. Editors-in-Chief: Past and Present The following persons have been editor-in-chief of the journal: * Ronald Pyke (1972–1975) * Patrick Billingsley (1976–1978) * Richard M. Dudley (1979–1981) * Thomas M. Liggett (1985–1987) * Peter E. Ney (1988–1990) * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secretary Problem
The secretary problem demonstrates a scenario involving optimal stopping theory For French translation, secover storyin the July issue of ''Pour la Science'' (2009). that is studied extensively in the fields of applied probability, statistics, and decision theory. It is also known as the marriage problem, the sultan's dowry problem, the fussy suitor problem, the googol game, and the best choice problem. The basic form of the problem is the following: imagine an administrator who wants to hire the best secretary out of n rankable applicants for a position. The applicants are interviewed one by one in random order. A decision about each particular applicant is to be made immediately after the interview. Once rejected, an applicant cannot be recalled. During the interview, the administrator gains information sufficient to rank the applicant among all applicants interviewed so far, but is unaware of the quality of yet unseen applicants. The question is about the optimal strategy ( sto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expanded Access
Expanded access or compassionate use is the use of an unapproved drug or medical device under special forms of investigational new drug applications (IND) or IDE application for devices, outside of a clinical trial, by people with serious or life-threatening conditions who do not meet the enrollment criteria for the clinical trial in progress. These programs go under various names, including early access, special access, or managed access program, compassionate use, compassionate access, named-patient access, temporary authorization for use, cohort access, and pre-approval access. In general the person and their doctor must apply for access to the investigational product, the company has to choose to cooperate, and the medicines regulatory agency needs to agree that the risks and possible benefits of the drug or device are understood well enough to determine if putting the person at risk has sufficient potential benefit. In some countries the government will pay for the drug or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clinical Trial
Clinical trials are prospective biomedical or behavioral research studies on human participants designed to answer specific questions about biomedical or behavioral interventions, including new treatments (such as novel vaccines, drugs, dietary choices, dietary supplements, and medical devices) and known interventions that warrant further study and comparison. Clinical trials generate data on dosage, safety and efficacy. They are conducted only after they have received health authority/ethics committee approval in the country where approval of the therapy is sought. These authorities are responsible for vetting the risk/benefit ratio of the trial—their approval does not mean the therapy is 'safe' or effective, only that the trial may be conducted. Depending on product type and development stage, investigators initially enroll volunteers or patients into small pilot studies, and subsequently conduct progressively larger scale comparative studies. Clinical trials can vary i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sequential Estimate
In mathematics, a sequence is an enumerated collection of objects in which repetitions are allowed and order matters. Like a set, it contains members (also called ''elements'', or ''terms''). The number of elements (possibly infinite) is called the ''length'' of the sequence. Unlike a set, the same elements can appear multiple times at different positions in a sequence, and unlike a set, the order does matter. Formally, a sequence can be defined as a function from natural numbers (the positions of elements in the sequence) to the elements at each position. The notion of a sequence can be generalized to an indexed family, defined as a function from an ''arbitrary'' index set. For example, (M, A, R, Y) is a sequence of letters with the letter 'M' first and 'Y' last. This sequence differs from (A, R, M, Y). Also, the sequence (1, 1, 2, 3, 5, 8), which contains the number 1 at two different positions, is a valid sequence. Sequences can be ''finite'', as in these examples, or ''infinit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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