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SELECTING SATISFACTORY SECRETARIES
Author(s) -
Yeo A.J.,
Yeo G.F.
Publication year - 1994
Publication title -
australian journal of statistics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.434
H-Index - 41
eISSN - 1467-842X
pISSN - 0004-9581
DOI - 10.1111/j.1467-842x.1994.tb00861.x
Subject(s) - monotone polygon , variety (cybernetics) , probabilistic logic , mathematical optimization , function (biology) , optimal stopping , order (exchange) , secretary problem , mathematics , computer science , stopping rule , statistics , finance , economics , geometry , evolutionary biology , biology
Summary The probability of selecting the ath best out of n applicants in the secretary problem is evaluated by probabilistic arguments for monotone order k stopping rules. This leads to an explicit optimizing function for selecting (with payoffs) one of the k best applicants. This optimization problem can be solved directly both for a finite and for an unlimited number of applicants, yielding a variety of numerical results. Extensions are given for two choices with success if two applicants are selected from among the k best.