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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
day n+1
100
200
day n
0.5
0.25
0.75
At the start of a day at which you own a stock you may choose to either sell at the current price, or keep the stock. At the start of a day at which you do not own stock, you may choose to either buy one stock at the current price or do nothing. You have initial capital of 200.
Your target is to maximize the discounted value of the profit over an infinite horizon, use discountfactor 0.8 (per day).
a) Define the states and give for each state the possible decisions.b) Formulate the optimality equations.c) Carry out two iterations of value iteration.d) Formulate the L.P.-model to solve this problem. Describe how you can obtain the optimal policy from the LP formulation.e) Choose a stationary policy and investigate using the policy iteration algorithm whether or not that policy is optimal.f) Give the number of stationary policies. Motivate your answer by using the definition of stationary policy.
One Sample sign Test In a one sample test the null hypothesis μ = μ 0 against an appropriate alternative on the basis of a random sample of size n we replace each sam
scope of operation research in management
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In this method variables beings studied are controlled by the investigator. In other the effect of one variable is observed while other relevant variables are held constant
how does it work
in a rectangular game ,pay of matrix of player A is as follows
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can u send me some assigment problems
Among other limitations of O. R the followings deserve mention: a. Basis: The operational researchers must be unbiased. An attempt to shoehorn result sin to a confirmation of ma
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