What is it about?

A problem of sequential sampling from an Exponential Distribution is considered in this research. The problem is formulated in the stochastic dynamic programming framework and the objective is to determine a control policy maximizing the total expected reward. It is assumed that under standard assumptions the control limit policy is optimal. Also, the posterior distribution of state of the system is determined through Bayesian approach

Featured Image

Read the Original

This page is a summary of: Optimal stopping rules for exponential data, Malaysian Journal of Fundamental and Applied Sciences, July 2014, Penerbit UTM Press,
DOI: 10.11113/mjfas.v7n1.209.
You can read the full text:

Read

Contributors

The following have contributed to this page