Solving optimal stopping problems with statistical algorithms
Enough Is Enough
When is it statistically favorable to conclude, say, the search for a suitable employee with a chosen one? Solid algorithms point the way to success.
The saying goes that you should quit when you're ahead. Making a decision on when to conclude a selection process is often not that easy in real life. In mathematical statistics, a puzzle known as the "secretary problem" [1] sums this up nicely. A number of candidates are applying for a secretary position at a company. In the selection process, the employer must decide after each interview, whether to accept the candidate or reject them and hope for a more suitable applicant later on. The decision is final, the employer is not allowed to invite back any rejected applicants.
An employer who is thinking logically should carefully check the first few candidates and not simply take the first one. Later, when the line starts to come to an end, the employer will possibly take on a more-or-less suitable candidate for fear of being left with only unsuitable candidates, and – not having any other options – grudgingly just bite the bullet, and grab whoever is left.
Ideal: 37 Percent
How should the employer proceed to mathematically ensure the best possible odds of finding an above-average candidate? How long should the try-before-buy phase last, in which the employer explores the unknown capabilities of candidates before immediately snapping up the one that is better than all the previous ones and hopefully scores favorably against future candidates further down the line? Mathematicians have been tackling stop problems [2] for thousands of years.
[...]
Buy this article as PDF
(incl. VAT)
Buy Linux Magazine
Subscribe to our Linux Newsletters
Find Linux and Open Source Jobs
Subscribe to our ADMIN Newsletters
Support Our Work
Linux Magazine content is made possible with support from readers like you. Please consider contributing when you’ve found an article to be beneficial.
News
-
Chaos Comes to KDE in KaOS
KaOS devs are making a major change to the distribution, and it all comes down to one system.
-
New Linux Botnet Discovered
The SSHStalker botnet uses IRC C2 to control systems via legacy Linux kernel exploits.
-
The Next Linux Kernel Turns 7.0
Linus Torvalds has announced that after Linux kernel 6.19, we'll finally reach the 7.0 iteration stage.
-
Linux From Scratch Drops SysVinit Support
LFS will no longer support SysVinit.
-
LibreOffice 26.2 Now Available
With new features, improvements, and bug fixes, LibreOffice 26.2 delivers a modern, polished office suite without compromise.
-
Linux Kernel Project Releases Project Continuity Document
What happens to Linux when there's no Linus? It's a question many of us have asked over the years, and it seems it's also on the minds of the Linux kernel project.
-
Mecha Systems Introduces Linux Handheld
Mecha Systems has revealed its Mecha Comet, a new handheld computer powered by – you guessed it – Linux.
-
MX Linux 25.1 Features Dual Init System ISO
The latest release of MX Linux caters to lovers of two different init systems and even offers instructions on how to transition.
-
Photoshop on Linux?
A developer has patched Wine so that it'll run specific versions of Photoshop that depend on Adobe Creative Cloud.
-
Linux Mint 22.3 Now Available with New Tools
Linux Mint 22.3 has been released with a pair of new tools for system admins and some pretty cool new features.