Odds algorithm: Difference between revisions

Content deleted Content added
2nd Paragraph: You will kindly forgive my having expunged an expression I regard as obscenely obnoxious
2nd Paragraph: You will kindly forgive my having pruned an expression away I regard only as dreary
Line 5:
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 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 situations.
in order to take
a well-defined action. Such
problems are encountered in several
real-world situations.
 
==Examples==