Understanding Decision-Making through Computer Science

The video discusses the challenges of finding housing in Sydney and introduces the 37% rule as a solution to optimal stopping problems. It explores how computational cognitive science can aid human decision-making, highlighting the explore-exploit trade-off. The video also draws parallels between organizing a wardrobe and computer memory systems, concluding with insights on rational decision-making.

What is the 37% rule used for in decision-making?

• To determine the best time to stop looking for a house

• To decide the number of houses to visit in a day

• To calculate the best price for a house

• To find the average cost of living in a city

What is the explore-exploit trade-off?

• Choosing between trying something new and sticking with what you know

• Balancing work and leisure time

• Determining the best time to travel

• Deciding whether to invest in stocks or bonds

According to the speaker, what should you consider when deciding on a restaurant?

• The type of cuisine

• The restaurant's popularity

• How long you will be in town

• The distance from your home

What does the speaker imply about the old man who always eats the same meal?

• He is making an optimal decision

• He is wasting opportunities

• He is missing out on new experiences

• He is too set in his ways

What principle do computer scientists use to manage memory systems effectively?

• Least recently used

• First-in, first-out

• Random selection

• Most frequently used

How can the least recently used principle be applied to organizing a wardrobe?

• By arranging clothes by size

• By organizing clothes by color

• By storing clothes based on their price

• By keeping clothes that are most recently worn at the front

What is a key strategy computers use to solve complex problems?

• Using more memory

• Breaking problems into simpler ones

• Running multiple algorithms simultaneously

• Increasing processing power

What is the main benefit of applying computer science to human decision-making?

• It simplifies complex problems

• It increases creativity

• It eliminates all errors

• It makes decisions faster

What does the speaker suggest about making decisions with the best processes?

• It ensures maximum efficiency

• It guarantees a perfect outcome

• It requires considering all options

• It involves taking calculated risks

What does the speaker mean by saying 'you can't control outcomes, just processes'?

• You should focus on the method rather than the result

• You should always aim for the best result

• You should avoid taking risks

• You should control every aspect of a decision