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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. "
Significance & scope of operation research in modern management
in a rectangular game pay off matrix of player a is as follows B1 B2 A1 5 7 A2 4 0 salve the game write down the pay off matrix of B and then solve the ga
Problem The important task ahead of the researcher is to document the entire work done in the form of a well-structured research report. Describe in brief the components of a R
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Method of calculation of Mode Calculation of Mode Individual series: For determining mode count the number of times the various values repeat themselves and the va
Merits a.It is simple to understand and easy to calculate. b.It is very useful in the case of data which are of qualitative nature like intelligence honesty be
An integer programming problem is identical to a linear programming problem except that one or more decision variables are constrained to take integer values. Such problems cannot
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what will happen when line balance doesn not exist
1. Investigate: The Operations Strategy of your organisation or one you are familiar with and answer the following points. Does your chosen organisation have an operations
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