5. Dynamic programming

Dynamic programming is a very useful technique for generating a sequence of correlated decisions. It provides a systematic procedure for determining the optimal combination of decisions.

Dynamic programming is a general type of problem-solving method; special equations have to be developed for each particular case. Dynamic programming is particularly well suited to problems where decisions are made in stages. The outcome of each decision is not entirely predictable, but can be observed before the next decision is taken. The main features that characterize dynamic programming problems are ,