Expectations and variances of stopping variables in sequential selection processes
M. Henke · Journal of Applied Probability · 1973
A sequential stochastic decision process with independent random variables is considered in which the decision maker selects a chance with a certain probability at each time period or at random times. If the decision maker has selected m chances, the process has to be stopped. The expectation and the variance of the stopping variable are determined for a finite and an infinite decision horizon.