added multi armed bandit problem with three strategies to solve it #12668
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Multi-armed bandits (MAB) represent a class of sequential decision-making problems, where an agent chooses from multiple actions (or "arms") with uncertain rewards, aiming to maximize cumulative reward through balancing exploration (gathering information about each arm) and exploitation (leveraging known rewarding arms). It's one of the foundational algorithms in reinforcement learning and optimization contexts, as it models fundamental exploration-exploitation trade-offs that underpin decision-making processes. MAB algorithms, such as the epsilon-greedy, Upper Confidence Bound (UCB), and Thompson Sampling, find widespread applications across recommendation systems, adaptive clinical trials, online advertising, and resource allocation, effectively optimizing real-world decisions under uncertainty with minimal data collection.