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The supply of a certain good is inspected periodically. If an order is placed of size x>0 (integer), the ordering costs are 8+2.x. The delivery time is zero. The demand is stochastic en equals 1 or 2 with probability ½ . Demand in subsequent periods are independent. The size of an order must be such that (a) demand in a period is always satisfied, and (b) the stock at the end of a period never exceeds 2. The holding costs in a period are 2 per unit remaining at the end of a period. Target is to minimize the expected discounted costs over infinite horizon, use discount factor 0.8.
(a) Give the optimality equations for the Markov decision problem.
(b) Give an LP-model that allows you to determine the optimal policy.
(c) Carry out two iterations of the value iteration algorithm
(d) Choose an odering policy, and investigate using the policy iteration algorithm whether or not this policy is optimal. "
how to solve it
#what are the methods of OR ?
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
Construct a two-variable LP model that: · Maximizes Z; · All coefficients in the objective function are greater than 500; · Includes at least 5 constraints;
A paper mill products two grade of paper viz., X & Y. Because of raw material restriction, it cannot produce more than 400 tons of grade X paper & 300 tons of grade Y paper in a we
#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
maximize z=3x1+2x2 subgect to the constraints x1+x2 x1-x2 x1,x2>_0
the following table gives place under different states of nature Strategies States of nature s1 s2 s3 A 10000 3000 2000 B
Regression Line The line of regression is the line which give the best estimate to the values of one variable for any specific values of other variable. For t
Family Application specialises in selling major appliances for use in kitchen remodelling. One of its more popular items is the SubZero refrigerator. Over the past 40 weeks, the
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