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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. "
Regression Equations The regression equations express the regression line. As there are two regression lines so there are two regression equations. The regression equatio
Question : (a) (i) What do you understand by the term "operations research"? (ii) Discuss three common operations research models. (b) Self-service at the university c
The demand of ice cream during the three summer months (June, July, and August) at All-Flavors Parlor is estimated at 500,600, and 400 20-gallon cartons, respectively. Two wholesal
Write a research paper in relation to a Software Design related topic. Diagrams and drawing of attention to key points through highlighting, bulleting etc is encouraged. Questi
Test Statistic The next step is compute an appropriate test statistic which is based on an appropriate probability distribution. It is used to test whether the null hypo
Among other limitations of O. R the followings deserve mention: a. Basis: The operational researchers must be unbiased. An attempt to shoehorn result sin to a confirmation of ma
give real data & find out the inventory & give suggestions
#what is the similarity and difference between transportation and linear programing models?
Yates Correction for Continuity for 2x 2Tables If any cell frequency in 2x 2 table isles than 5thenfor the application of X 2 test it is pooled with the preceding or suc
Two Handed process Chart of Signing a Latter A multiple activity chart records the related sequence of activities of more than one subject, men and / or machine o
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