lp-model and markov decision problem, Operation Research

Assignment Help:

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. "

 


Related Discussions:- lp-model and markov decision problem

#title, WHOM DO YOU THINK RAJENDER WILL EAT WITH? WHY?

WHOM DO YOU THINK RAJENDER WILL EAT WITH? WHY?

Lpp, A paper mill produces two grades of paper viz., X and Y. Because of ra...

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

Linear programming , A paper mill produces two grades of paper viz., X and ...

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

Research, Discus and explain both probability and none probability sampling...

Discus and explain both probability and none probability sampling techniques

Or, .A paper mill produces two grades of paper viz., X and Y. Because of ra...

.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

Stratified sample size - sampling size, Stratified Sample Size The  sa...

Stratified Sample Size The  sampling  study  has depended  much on the stratified sample  to reduce  the sampling  error, samples  size may have a number of strata or  cluster

Mathematical Model, What is meant by a mathematical model of a real situati...

What is meant by a mathematical model of a real situation? Discuss the importance of models in the solution of Operations research problems

Operations research, What are artificial variable why do you need them

What are artificial variable why do you need them

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd