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Each day you own 0 or 1 stocks of certain commodity. The price of the stock is a stochastic process that can be modeled as a Markov chain with transition rates as follows
day n+1
100
200
day n
0.5
0.25
0.75
At the start of a day at which you own a stock you may choose to either sell at the current price, or keep the stock. At the start of a day at which you do not own stock, you may choose to either buy one stock at the current price or do nothing. You have initial capital of 200.
Your target is to maximize the discounted value of the profit over an infinite horizon, use discountfactor 0.8 (per day).
a) Define the states and give for each state the possible decisions.b) Formulate the optimality equations.c) Carry out two iterations of value iteration.d) Formulate the L.P.-model to solve this problem. Describe how you can obtain the optimal policy from the LP formulation.e) Choose a stationary policy and investigate using the policy iteration algorithm whether or not that policy is optimal.f) Give the number of stationary policies. Motivate your answer by using the definition of stationary policy.
Q3. Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
mile-high microbrewery makes a light beer and a dark beer. mile-high has a limited supply of barley, limited bottling capacity, and a limited market for light beer. profits are $0.
EXPLAIN THE CONCEPT OF DUALITY IN LPP THROUGH A LIFE SITUATION
how does it work
Steps of Research Process The steps of research process have already been discussed in theory. Here we shall outline the procedure of conducting the research. i) Formulate t
a paper mill prodecs two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper in
B A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper
what is process design? what are the factors that affects the process design?
a company produces 150 cars. but the production rate varies with the distribution.
Machine Tabulation This methods of tabulating information is generally used in case of extensive large scale surveys. Mechanical sorting and tabulating equipments and su
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