On Estimation and Optimization of Mean Values of Bounded Variables

Understand

In this paper, we develop a general approach for probabilistic estimation and optimization.

• An explicit formula and a computational approach are established for controlling the reliability of probabilistic estimation based on a mixed criterion of absolute and relative errors.
• By employing the Chernoff-Hoeffding bound and the concept of sampling, the minimization of a probabilistic function is transformed into an optimization problem amenable for gradient descendent algorithms.