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The Multi-armed Bandit Problem is a classic problem in decision theory and reinforcement learning that explores the trade-off between exploration and exploitation to maximize rewards. It models scenarios where you must choose between multiple options with uncertain payoffs, akin to selecting which arm of a slot machine to pull to achieve the highest cumulative reward over time.
Bayesian inference is a statistical method that updates the probability of a hypothesis as more evidence or information becomes available, utilizing Bayes' Theorem to combine prior beliefs with new data. It provides a flexible framework for modeling uncertainty and making predictions in complex systems, often outperforming traditional methods in scenarios with limited data or evolving conditions.
Posterior distribution represents the updated probability of a hypothesis after considering new evidence and is a fundamental concept in Bayesian statistics. It combines prior beliefs with likelihood from observed data to provide a comprehensive probability model for inference and decision-making.
Reinforcement learning is a type of machine learning where an agent learns to make decisions by taking actions in an environment to maximize cumulative reward. It involves trial and error, exploration, and exploitation to develop an optimal strategy or policy for decision-making tasks.
Online learning is a flexible educational approach that leverages digital platforms to deliver instruction and facilitate interaction between instructors and students, often across geographical boundaries. It encompasses a wide range of formats, from fully virtual courses to blended learning environments, and is characterized by its accessibility, scalability, and potential for personalized learning experiences.
Bandit algorithms are a set of strategies in machine learning that optimize decision-making by balancing exploration and exploitation in situations where choices must be made sequentially and their outcomes are uncertain. These are especially useful in contexts such as adaptive clinical trials, online advertising, and recommendation systems where maximizing cumulative rewards is paramount.
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