This is a reference to the Optimal Stopping Theory, specifically the Secretary Problem. The theory suggests that when choosing one option from a sequence of unknown options, the best strategy is to observe and reject the first 37% of the options, then pick the next option that is better than all the observed ones.
In the context of hiring, if an employer interviews 100 candidates, they should spend the first 37 interviews learning about the candidate pool. After that, they should hire the next candidate who is better than all the candidates interviewed so far. This strategy gives the employer the highest probability (37%) of selecting the best candidate.
The odds of selecting the best candidate increase with fewer applicants because the employer has a better chance of having already seen the best candidate in the initial 37%.
Can computer science teach us the secrets of life? Perhaps not, but they can shed light on how certa...
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