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Dynamic programming may be considered thoutgrowth of mathematical programming and involves the optimization of multistage( sequence of inter related decisions) decision processes. The method starts by dividing a given problem into stage or sub problems and then solves those sub problems sequentially until the solution to the original problem is obtained.
Each day you own 0 or 1 stocks of certain commodity. The price of the stock is a stochastic process that can be modeled as a Markov chain with transition rates as follows
Operation research makes no allowance for intangible factors such as skill attitude vigor of the management people in taking decisions but in many instances success or fail
explian completelly the operation reserch
Teesside Construction is developing a schedule for a major building project to start in 04/01/2011 in Middlesbrough, UK. The project manager has identified major activities of the
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
Use Big M method to Maximize(Z)=3_(x_1 )+2_(x_2 ) Subject to 3_(x_1 )+?1.5?_(x_2 )=30 x_1+x_2=20 x_1=0 x_2=0
management wants to know how many supervisors should be hired, and what could be the optimum workload distribution to be applied, given a number of constraints
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
Advantages of Mode a.It is easy to understand as well as easy to calculate. In can be found out by inspection. b.It is usually an exacta value as it occurs most fre
Disadvantages of Mean Deviation a.Mean deviation ignores the algebraic signs of the deviations and such it is not capable of further algebraic treatment. b.It is no
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