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

Linear programming., Q3. Solve the following Linear Programming Problem usi...

Q3. Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 4 X

Research abstracts, Research Abstracts Abstracts of researches comp...

Research Abstracts Abstracts of researches completed are available from the followings publications: a. ICSSR Research Abstracts: contain abstracts of research projects

Set of pareto optimal policies, Problem: A policy maker is considering seve...

Problem: A policy maker is considering several policy options that lead to different utility levels of different individuals a) Which Policy is would be optimal according t

Problems, can u send me some assigment problems

can u send me some assigment problems

What do you understand by customs duty, Question 1 What do you understa...

Question 1 What do you understand by customs duty? Explain the taxable events for imported, warehoused and exported goods. List down the types of duties in customs. An importer

MODERN MANAGEMENT, DISCUSS THE SIGNIFICANCE AND SCOPE OF OPERATION RESEARCH...

DISCUSS THE SIGNIFICANCE AND SCOPE OF OPERATION RESEARCH IN MODERN MANAGEMENT

Research, Regression line drawn as Y=C+1075x, when x was 2, and y was 239, ...

Regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual#

Answer, A paper mill products two grade of paper viz., X & Y. Because of ra...

A paper mill products two grade of paper viz., X & Y. Because of raw material restriction, it cannot produce more than 400 tons of grade X paper & 300 tons of grade Y paper in a we

Plz get the ans , #questioA paper mill produces two grades of paper viz., X...

#questioA 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

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