The ski rental problem is the name given to a class of problems in which there is a choice between continuing to pay a repeating cost or paying a one-time cost which eliminates or reduces the repeating cost.
Read more about Ski Rental Problem: The Problem, The Break-even Algorithm, Can You Do Better Than Break-even?, Applications, See Also
Famous quotes containing the words ski and/or problem:
“The goal for all blind skiers is more freedom. You don’t have to see where you’re going, as long as you go. In skiing, you ski with your legs and not with your eyes. In life, you experience things with your mind and your body. And if you’re lacking one of the five senses, you adapt.”
—Lorita Bertraun, Blind American skier. As quoted in WomenSports magazine, p. 29 (January 1976)
“It is very comforting to believe that leaders who do terrible things are, in fact, mad. That way, all we have to do is make sure we don’t put psychotics in high places and we’ve got the problem solved.”
—Tom Wolfe (b. 1931)