Optimal selection of the four best of a sequence

Optimal selection of the four best of a sequence

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Article ID: iaor19941289
Country: Germany
Volume: 38
Start Page Number: 309
End Page Number: 315
Publication Date: Mar 1993
Journal: Mathematical Methods of Operations Research (Heidelberg)
Authors:
Keywords: programming: dynamic
Abstract:

The paper considers the situation in which the decision-maker is allowed to have four choices with purpose to choose exactly the four absolute best candidates from N applicants. The optimal stopping rule and the maximum probability of making the right choice are given for large equ1, the maximum asymptotic value of the best choice being equ2.

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