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Problem:
A person has 3 units of money available for investment in a business opportunity that matures in 1 year. The opportunity is risky in that the return is either double or nothing. Based on past performance, the likelihood of doubling one's money is 0.6, while the chance of losing an investment is 0.4. Money earned one year can be reinvested in a later year and investments are restricted to unit amounts.
When dynamic programming is used to find the investment strategy for the next 4 years that will maximize the expected total holdings at the end of that period, the problem is formulated as a four-stage process with each stage representing a year. The states sj are the amounts of money available for investment for stage j (j = 1; 2; 3; 4).
Let fj(sj) denote the maximum expected holdings at the end of the process, starting in state sj at stage j.
(a) By clearly explaining your reasoning show that a recursive formula for finding the maximum expected holdings at the end of four years is given by
for j = 1; 2; 3 and 4, where the values of α and β are to be determined.
(b) Write down an expression for f5(s).
(c) Find the maximum expected holdings at the end of the four years.
With reference to Fig. 1(a) show that the magnification of an object is given by M=SID/SOD. With reference to Fig. 1(b) show that the size of the penumbra (blur) f is given by f
What is 2 1/9 - 4 1/2
Example 1 Add 4x 4 + 3x 3 - x 2 + x + 6 and -7x 4 - 3x 3 + 8x 2 + 8x - 4 We write them one below the other as shown below.
Thorwarth M., Arisha, A. and Harper P., (2009) Simulation model to investigate flexible workload management for healthcare and servicescape environment, Proceedings of the 2009 Win
the median of a continuous frequency distribution is 21.if each observation is increased by 5. find the new median
The sum of the series 1+1/2+1/4+......is
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The value of a computer is depreciated over ?ve years for tax reasons (meaning that at the end of ?ve years, the computer is worth $0). If a business paid $2,100 for a computer, ho
trigonometric ratios of sum and difference of two angles
project
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