

![0_image_0.png](0_image_0.png)

Sinit

s' ! Sinit sl L
Sinit relevant expected value ma xim um  va lu e

$${\mathbf{}}{\mathbf{s}}$$
$$t\qquad\qquad\qquad V_{T-t}^{s}\;\;s$$
$$20{\mathrm{~s}}$$
$${\boldsymbol{s}}$$

s

$$r o l l b a c k\ p r o c e d u r e$$
$$d i r c c t e d$$ $$\mathbf{s}_{i\,n\,i\,t}$$
- t t a priori