The Graduate Student Seminar Speaker for Tuesday, February 28, 2017 will be David Eckman.
Title: Reconsidering Ranking-and-Selection Guarantees
Abstract: Ever since the formulation of the indifference zone by Bechhofer (1954), the predominant goal of frequentist ranking-and-selection procedures has been to guarantee that the probability of correct selection (PCS) is above a pre-specified threshold whenever the configuration of systems is in the preference zone. A less prevalent goal is to guarantee that the probability of good selection (PGS) is above a pre-specified level for all configurations. We argue that guarantees on PGS are superior to those on PCS and present conditions under which they are equivalent. We also discuss challenges with designing ranking-and-selection procedures that provide such guarantees when the procedure is applied on systems returned by a search and reuses search replications.