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

Help, A paper mill produces two grades of paper viz., X and Y. Because of r...

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

Other determinants of sample size- sampling decisions, Other  Determinants ...

Other  Determinants  of Sample Size 1. The variability  of elements  within the population  has become  a  very  important  factor  to decide the  sample  size.    The more  v

Mr Diwakar, A PAPER MILL PRODUCES TWO GRADES OF PAPER VIZ., X AND Y. BECAUS...

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

Wanna solution for this, A paper mill produces two grades of paper viz., X ...

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

Periodical article - report writing presentation , Periodical Article ...

Periodical Article A periodical is a publication that is  published  periodically like  a newspaper a magazine  and a journal. Usually  periodicals have  volume numbers  and n

Goal programming, A farmer in the Midwest has 1,000 acres of land on which ...

A farmer in the Midwest has 1,000 acres of land on which she intends to plant corn, wheat, and soybeans. Each acre of corn costs $100 for preparation, requires 7 worker-days of la

Non measurable human factors, Operation research makes no allowance for in...

Operation research makes no allowance for intangible factors such as skill attitude vigor of the management people in taking decisions but in many instances success or fail

Drurys principles, Drury's Principles: The basic principle, which stil...

Drury's Principles: The basic principle, which still governs the selection of reading material for a library, was enunciated by Drury  in 1930. It states: "To provide the righ

Linear programming, Ask question #Minimum 100 words acceptNas food produces...

Ask question #Minimum 100 words acceptNas food produces to kinds of popular dark chocolate bars. the banana and coffee. the banana bar costs 0.22 to make and sells of 0.35, where a

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