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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. "
Rephrasing the Research Problem Finally as a researcher you should rephrase the research problem. Once you have followed all the four steps above, i.e., 1) You have clear
Significance of operation research
What are the features of Operations Research?
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
operation research scope
DECILES The nine points on the scale of observations ( or values of the variable) which divide the total frequency into ten equal parts are called deciles for the data
Tied Ranks Equal or Repeated Rank When two or more items have equal values it is difficult to give ranks to them. In that case the items are given the average of the
These models are used for analyzing a system which changes over a period of time among various possible outcomes or states. The models while dealing with such systems describe tra
Formulation of convert to primal method to dual in lpp
i need many good and important question of operation research obout dinamic programing and non-liner programing and integer orograming ....for study! thank you
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