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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. Its solution is also known as the 37% rule. 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Secretary Problem Graphs
A secretary, administrative assistant, executive assistant, Personal assistant, personal secretary, or other similar titles is an individual whose work consists of supporting management, including executives, using a variety of project management, program evaluation, communication, and/or organizational skills within the area of Administration (other), administration. There is a diverse array of work experiences attainable within the administrative support field, ranging between internship, Entry-level job, entry-level, associate, junior, mid-senior, and senior level pay bands with positions in nearly every industry, especially among white-collar worker, white-collar careers. The functions of a personal assistant may be entirely carried out to assist one other employee or may be for the benefit of more than one. In other situations, a secretary is an officer of a society or organization who deals with correspondence, admits new members, and organizes official meeting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zero-sum Game
Zero-sum game is a Mathematical model, mathematical representation in game theory and economic theory of a situation that involves two competition, competing entities, where the result is an advantage for one side and an equivalent loss for the other. In other words, player one's gain is equivalent to player two's loss, with the result that the net improvement in benefit of the game is zero. If the total gains of the participants are added up, and the total losses are subtracted, they will sum to zero. Thus, Fair cake-cutting, cutting a cake, where taking a more significant piece reduces the amount of cake available for others as much as it increases the amount available for that taker, is a zero-sum game if marginal utility, all participants value each unit of cake equally. Other examples of zero-sum games in daily life include games like poker, chess, sport and Contract bridge, bridge where one person gains and another person loses, which results in a zero-net benefit for every ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Experimental Economics
Experimental economics is the application of experimental methods to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives. Experiments are used to help understand how and why markets and other exchange systems function as they do. Experimental economics have also expanded to understand institutions and the law (experimental law and economics). A fundamental aspect of the subject is design of experiments. Experiments may be conducted in the field or in laboratory settings, whether of individual or group behavior. Variants of the subject outside such formal confines include natural and quasi-natural experiments. Experimental topics One can loosely classify economic experiments using the following topics: * Markets * Games * Evolutionary game theory * Decision making * Bar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Experimental Psychology
Experimental psychology is the work done by those who apply Experiment, experimental methods to psychological study and the underlying processes. Experimental psychologists employ Research participant, human participants and Animal testing, animal subjects to study a great many topics, including (among others) Sense, sensation, perception, memory, cognition, learning, motivation, emotion; Developmental psychology, developmental processes, social psychology, and the Neuroscience, neural substrates of all of these. History Early experimental psychology Wilhelm Wundt Experimental psychology emerged as a modern academic discipline in the 19th century when Wilhelm Wundt introduced a mathematical and experimental approach to the field. Wundt founded the first psychology laboratory in Leipzig, Germany. Other experimental psychologists, including Hermann Ebbinghaus and Edward Titchener, included introspection in their experimental methods. Charles Bell Charles Bell was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expected Value
In probability theory, the expected value (also called expectation, expectancy, expectation operator, mathematical expectation, mean, expectation value, or first Moment (mathematics), moment) is a generalization of the weighted average. Informally, the expected value is the arithmetic mean, mean of the possible values a random variable can take, weighted by the probability of those outcomes. Since it is obtained through arithmetic, the expected value sometimes may not even be included in the sample data set; it is not the value you would expect to get in reality. The expected value of a random variable with a finite number of outcomes is a weighted average of all possible outcomes. In the case of a continuum of possible outcomes, the expectation is defined by Integral, integration. In the axiomatic foundation for probability provided by measure theory, the expectation is given by Lebesgue integration. The expected value of a random variable is often denoted by , , or , with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uniform Distribution (continuous)
In probability theory and statistics, the continuous uniform distributions or rectangular distributions are a family of symmetric probability distributions. Such a distribution describes an experiment where there is an arbitrary outcome that lies between certain bounds. The bounds are defined by the parameters, a and b, which are the minimum and maximum values. The interval can either be closed (i.e. ,b/math>) or open (i.e. (a,b)). Therefore, the distribution is often abbreviated U(a,b), where U stands for uniform distribution. The difference between the bounds defines the interval length; all intervals of the same length on the distribution's support are equally probable. It is the maximum entropy probability distribution for a random variable X under no constraint other than that it is contained in the distribution's support. Definitions Probability density function The probability density function of the continuous uniform distribution is f(x) = \begin \dfrac & ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Random Variable
A random variable (also called random quantity, aleatory variable, or stochastic variable) is a Mathematics, mathematical formalization of a quantity or object which depends on randomness, random events. The term 'random variable' in its mathematical definition refers to neither randomness nor variability but instead is a mathematical function (mathematics), function in which * the Domain of a function, domain is the set of possible Outcome (probability), outcomes in a sample space (e.g. the set \ which are the possible upper sides of a flipped coin heads H or tails T as the result from tossing a coin); and * the Range of a function, range is a measurable space (e.g. corresponding to the domain above, the range might be the set \ if say heads H mapped to -1 and T mapped to 1). Typically, the range of a random variable is a subset of the Real number, real numbers. Informally, randomness typically represents some fundamental element of chance, such as in the roll of a dice, d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Two Envelopes Problem
The two envelopes problem, also known as the exchange paradox, is a paradox in probability theory. It is of special interest in decision theory and for the Bayesian interpretation of probability theory. It is a variant of an older problem known as the necktie paradox. The problem is typically introduced by formulating a hypothetical challenge like the following example: Since the situation is symmetric, it seems obvious that there is no point in switching envelopes. On the other hand, a simple calculation using expected values suggests the opposite conclusion, that it is always beneficial to swap envelopes, since the person stands to gain twice as much money if they switch, while the only risk is halving what they currently have. Introduction Problem A person is given two indistinguishable envelopes, each of which contains a sum of money. One envelope contains twice as much as the other. The person may pick one envelope and keep whatever amount it contains. They pick one env ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas M
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, Idaho * Thomas, Illinois * 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 and entertainment * ''Thomas'' (Burton novel), a 196 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minimax
Minimax (sometimes Minmax, MM or saddle point) is a decision rule used in artificial intelligence, decision theory, combinatorial game theory, statistics, and philosophy for ''minimizing'' the possible loss function, loss for a Worst-case scenario, worst case (''max''imum loss) scenario. When dealing with gains, it is referred to as "maximin" – to maximize the minimum gain. Originally formulated for several-player zero-sum game theory, covering both the cases where players take alternate moves and those where they make simultaneous moves, it has also been extended to more complex games and to general decision-making in the presence of uncertainty. Game theory In general games The maximin value is the highest value that the player can be sure to get without knowing the actions of the other players; equivalently, it is the lowest value the other players can force the player to receive when they know the player's action. Its formal definition is: :\underline = \max_ \min_ W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
