Statistics Seminars: Optimal strategy in many-lap racing
23 February 2001 14:00 in CM221
"Motor-racing companies spend many millions of pounds designing, building and testing cars. Once the race starts, however, the result is up to the intuition of two highly-paid specialists: the driver and the strategist in the pit lane, who decides on when the car comes in for refueling. Recent disappointments (eg running out of fuel while in lead on the final lap) have persuaded one team to adopt a more scientific approach to race-time strategy. I describe a dynamic programming solution to the optimal race strategy, and discuss ways in which it can be generalised to account for uncertainty and risk preferences."
room CM103 (internal seminar) 2.15 - 3.00 pm
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