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The Optimal Stopping algorithm is a mathematical concept used to determine the best time to make a decision. It suggests that one should spend a certain amount of time (37% is often suggested) exploring options without making a commitment. After this exploration period, one should be prepared to commit to the first option that is considered the best so far. This algorithm can be applied in real-life situations such as house hunting, job searching, or even choosing a life partner. It helps in making decisions when there is a large pool of options and a limited time to decide.
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A renter on the hunt for an apartment in San Francisco might be inclined to take the first available unit due to high demand. If that renter needs to find a new place to live within 30 days, the "Optimal Stopping" algorithm suggests that the renter commit 37% of their time, or 11 days, to explore options without any commitment. On day 12, the renter must be prepared to commit to the first place that they consider to be the "best so far."
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Can computer science teach us the secrets of life? Perhaps not, but they can shed light on how certain everyday processes work and how to exploit them...
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