Odds algorithm: Difference between revisions

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Repairing link to disambiguation page - You can help!
m on-line -> in real time. One of the few times this is actually the right word to use
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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-linein real time, 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