(A simple bandit model) Suppose there are two projects available for selection in each of three…

(A simple bandit model) Suppose there are two projects available for selection in each of three periods. Project 1 yields a reward of one unit and always occupies state s and the other, project 2, occupies either state f or state u. When project 2 is selected, and it occupies state u, it yields a reward of 2 and moves to state f at the next decision epoch with probability 0.5. When selected in state t, it yields a reward of 0 and moves to state u at the next decision epoch with probability 1. Assume a terminal reward of 0, and that project 2 does not change state when it is not selected.

Using backward induction determine a strategy that maximizes the expected total reward.

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