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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.
Maximize Z = 2x - 7y subject -2x + 3y = 3 4x + 5y >= 10 6x + 7y 4x + 8y >= 5
Meaning of Linear programming problem and explanation of graphical method of solving Linear Programming Problem
The town of Silverton, Colorado, has three gasoline stations, Shell, Exxon, and Arco. Customer selection of service stations can be modeled as a Markov process, with the following
Small Sample The central limit theorem does not work well with small samples even if the population in non Gaussian. So we cannot rely on the central limit theorem
Coding and Retrieval If all your data are word processed on in some other computer readable form it will be possible for your primary documents to be accessed d
Problems based on LPP when feasible region is a line segment or it does not exist. 1. Maximize z = 2x+3y subject to the constraints X + y ≤ 1 X + y ≥ 3 X, y ≥ 0
problems
Medical Industry Payments to Physicians The relationships between physicians and medical related companies in the United States, generally acknowledged to be familiar given th
Characteristics of Good Average a. It should be Rigidly Defined An average should be rigidly defined so that there is no confusion in regard to its meaning and con
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 In a We
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