lp-model and markov decision problem, Operation Research

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. "

 

Posted Date: 3/5/2013 8:11:19 AM | Location : United States







Related Discussions:- lp-model and markov decision problem, Assignment Help, Ask Question on lp-model and markov decision problem, Get Answer, Expert's Help, lp-model and markov decision problem Discussions

Write discussion on lp-model and markov decision problem
Your posts are moderated
Related Questions
Inability of NIH, FDA, to Identify Conflict of Interest While federal regulations require that researchers receiving NIH grants remain free of financial conflicts of interest,

WHOM DO YOU THINK RAJENDER WILL EAT WITH? WHY?

how i do project in linear programming

Research Methodology 1. Discuss how the research will be executed to achieve the proposed research objectives. The methodology should be based on the methods that are used in

Conflicts of Interest and Related Change in Medical Research The significant increase in private industry drug studies has spawned three other changes in medical research: med


Find a minimum cost spanning arborescence rooted,

how does it work

what are the characteristics of operation research

Table of contents The tables  of contents  is an outline  of the order  of the chapters sections and  sub  section  with their  respective  pages. If  report  includes  a n