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Expectations and variances of stopping variables in sequential selection processes
Published online by Cambridge University Press: 14 July 2016
Abstract
A sequential stochastic decision process with independent random variables is considered in which the decision maker selects a chance with a certain probability at each time period or at random times. If the decision maker has selected m chances, the process has to be stopped. The expectation and the variance of the stopping variable are determined for a finite and an infinite decision horizon.
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- Copyright © Applied Probability Trust 1973
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