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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. "
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
LIMITS OF TRANSPOTATION PROBLEM
Write a note on tracing a closed loop. What are the characteristic features of a closed loop?
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
find optimal solution for a 3*4 matrix 42 27 24 35 46 37 32 32 40 40 30 35 using modi method
Explian scope and concept of Operations research?
give the procedure of tracing a closed loop
Operation reac Involves the use of mathematical models, equations and similar other mathematical expressions. Assumptions are always incorporated in the derivation of an equa
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