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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
In a rectangular game, pay-off matrix of player A is as follows: i) Solve the game. ii) Write down the pay-off matrix of B and then, solve the game.
Simple Graph The values of the two variables are plotted on a graph paper. We get two curves one for x variables and another for y variables. These two curves reveal the dir
The following linear programming is written to plan the production of two products. And the company wants to maximize profits. x1 = number of product 1 produced in each batch
Word problems based on formulation of linear programming problems. 2. A manufacturer produces nuts and bolts for industrial machinery. It takes 1 hour of work on machine 1 an
Ask 7:23 PM Docx Reader GROUP-7 1. A firm manufactures two products A & B on which the profits earned per unit is Rs.3 and Rs.4. Each product is processed on two machines Miand M2.
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
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