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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.
Degree of Correlation ship 1. Perfect Correlation: When changes in two related variables are exactly proportional there is perfect correlation between them. In case
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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 i
undertake the proposed research investigation in accordance with the agreed specification and procedures
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In large sized linear programming problems, the solution cannot be obtained by the graphical method and hence a more systematic method has to be developed to find
Question 1 Explain Pre-Store opening activities and State at least 10 pre-store opening activities that should be ideally carried out in a retail store? Question 2 What ar
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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
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