The stakes for solving this real problem in the casino are high. We must spend our money to carry out these experiments, and the longer we take to find the solution, the more money we will have spent. For that reason, we must figure out our solution as quickly as possible in order to contain our losses. To maintain efficiency, we must take two factors into account: exploration and exploitation. These factors must be applied in tandem – exploration refers to searching for the best machine, and exploitation means applying the knowledge that we already have about each of the machines to make our
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