Models For Optimum Decision Making
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Author | : Katta G. Murty |
Publisher | : Springer |
Total Pages | : 81 |
Release | : 2021-03-14 |
Genre | : Business & Economics |
ISBN | : 9783030402143 |
Download Models for Optimum Decision Making Book in PDF, Epub and Kindle
This book considers the problem of determining how many barrels of crude oil an oil-producing and exporting country should produce annually for export―along with several other important problems that decision-makers in the crude oil industry face―and discusses procedures for finding optimum solutions for them. It considers the important Objective Functions they need in making these critical decisions, and discusses procedures to find the best solutions. Outputs from the treatment units, in an oil refinery are only semi-finished products; these are blended into finished products like gasoline, diesel oil, etc., meeting various specifications that the marketplace demands. The book discusses models for solving these problems optimally with examples.
Author | : Carnero, María Carmen |
Publisher | : IGI Global |
Total Pages | : 553 |
Release | : 2016-08-24 |
Genre | : Business & Economics |
ISBN | : 1522506527 |
Download Optimum Decision Making in Asset Management Book in PDF, Epub and Kindle
Asset management is becoming increasingly important to an organization’s strategy, given its effects on cost, production, and quality. No matter the sector, important decisions are made based on techniques and theories that are thought to optimize results; asset management models and techniques could help maximize effectiveness while reducing risk. Optimum Decision Making in Asset Management posits that effective decision making can be augmented by asset management based on mathematical techniques and models. Resolving the problems associated with minimizing uncertainty, this publication outlines a myriad of methodologies, procedures, case studies, and management tools that can help any organization achieve world-class maintenance. This book is ideal for managers, manufacturing engineers, programmers, academics, and advanced management students.
Author | : Katta G. Murty |
Publisher | : Springer Nature |
Total Pages | : 90 |
Release | : 2020-03-13 |
Genre | : Business & Economics |
ISBN | : 3030402126 |
Download Models for Optimum Decision Making Book in PDF, Epub and Kindle
This book considers the problem of determining how many barrels of crude oil an oil-producing and exporting country should produce annually for export―along with several other important problems that decision-makers in the crude oil industry face―and discusses procedures for finding optimum solutions for them. It considers the important Objective Functions they need in making these critical decisions, and discusses procedures to find the best solutions. Outputs from the treatment units, in an oil refinery are only semi-finished products; these are blended into finished products like gasoline, diesel oil, etc., meeting various specifications that the marketplace demands. The book discusses models for solving these problems optimally with examples.
Author | : Irfan Ali |
Publisher | : CRC Press |
Total Pages | : 434 |
Release | : 2021-11-29 |
Genre | : Business & Economics |
ISBN | : 1000404722 |
Download Optimal Decision Making in Operations Research and Statistics Book in PDF, Epub and Kindle
The book provides insights in the decision-making for implementing strategies in various spheres of real-world issues. It integrates optimal policies in various decisionmaking problems and serves as a reference for researchers and industrial practitioners. Furthermore, the book provides sound knowledge of modelling of real-world problems and solution procedure using the various optimisation and statistical techniques for making optimal decisions. The book is meant for teachers, students, researchers and industrialists who are working in the field of materials science, especially operations research and applied statistics.
Author | : Mykel J. Kochenderfer |
Publisher | : MIT Press |
Total Pages | : 350 |
Release | : 2015-07-24 |
Genre | : Computers |
ISBN | : 0262331713 |
Download Decision Making Under Uncertainty Book in PDF, Epub and Kindle
An introduction to decision making under uncertainty from a computational perspective, covering both theory and applications ranging from speech recognition to airborne collision avoidance. Many important problems involve decision making under uncertainty—that is, choosing actions based on often imperfect observations, with unknown outcomes. Designers of automated decision support systems must take into account the various sources of uncertainty while balancing the multiple objectives of the system. This book provides an introduction to the challenges of decision making under uncertainty from a computational perspective. It presents both the theory behind decision making models and algorithms and a collection of example applications that range from speech recognition to aircraft collision avoidance. Focusing on two methods for designing decision agents, planning and reinforcement learning, the book covers probabilistic models, introducing Bayesian networks as a graphical model that captures probabilistic relationships between variables; utility theory as a framework for understanding optimal decision making under uncertainty; Markov decision processes as a method for modeling sequential problems; model uncertainty; state uncertainty; and cooperative decision making involving multiple interacting agents. A series of applications shows how the theoretical concepts can be applied to systems for attribute-based person search, speech applications, collision avoidance, and unmanned aircraft persistent surveillance. Decision Making Under Uncertainty unifies research from different communities using consistent notation, and is accessible to students and researchers across engineering disciplines who have some prior exposure to probability theory and calculus. It can be used as a text for advanced undergraduate and graduate students in fields including computer science, aerospace and electrical engineering, and management science. It will also be a valuable professional reference for researchers in a variety of disciplines.
Author | : Kneale T. Marshall |
Publisher | : McGraw-Hill Science, Engineering & Mathematics |
Total Pages | : 440 |
Release | : 1995 |
Genre | : Business & Economics |
ISBN | : |
Download Decision Making and Forecasting Book in PDF, Epub and Kindle
This book discusses how to design the most important features of realistic decision problems into analytical models that reveal their structure and give insight. Emphasis is on model formulation using graphical techniques with influence diagrams and decision trees. Decision Making and Forecasting shows how forecasting must be integrated with decision making in a coherent manner and makes frequent use of the economic value of forecasts.
Author | : Saul I. Gass |
Publisher | : Wiley-Interscience |
Total Pages | : 440 |
Release | : 1985-05-10 |
Genre | : Business & Economics |
ISBN | : |
Download Decision Making, Models and Algorithms Book in PDF, Epub and Kindle
The first book to integrate the decision-making process through mathematical modelling. Using the concept of a decision framework, the ideas of decision making, models, and algorithms are introduced to the reader by way of realistic and entertaining problems. The structure, form, illustrations, problems, and challenges in this book provide a unique presentation of the subject matter.
Author | : Panel on Modeling Human Behavior and Command Decision Making: Representations for Military Simulations |
Publisher | : National Academies Press |
Total Pages | : 433 |
Release | : 1998-08-14 |
Genre | : Business & Economics |
ISBN | : 0309523893 |
Download Modeling Human and Organizational Behavior Book in PDF, Epub and Kindle
Simulations are widely used in the military for training personnel, analyzing proposed equipment, and rehearsing missions, and these simulations need realistic models of human behavior. This book draws together a wide variety of theoretical and applied research in human behavior modeling that can be considered for use in those simulations. It covers behavior at the individual, unit, and command level. At the individual soldier level, the topics covered include attention, learning, memory, decisionmaking, perception, situation awareness, and planning. At the unit level, the focus is on command and control. The book provides short-, medium-, and long-term goals for research and development of more realistic models of human behavior.
Author | : J.K. Sengupta |
Publisher | : Springer Science & Business Media |
Total Pages | : 295 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 3642701639 |
Download Optimal Decisions Under Uncertainty Book in PDF, Epub and Kindle
Understanding the stochastic enviornment is as much important to the manager as to the economist. From production and marketing to financial management, a manager has to assess various costs imposed by uncertainty. The economist analyzes the role of incomplete and too often imperfect information structures on the optimal decisions made by a firm. The need for understanding the role of uncertainty in quantitative decision models, both in economics and management science provide the basic motivation of this monograph. The stochastic environment is analyzed here in terms of the following specific models of optimization: linear and quadratic models, linear programming, control theory and dynamic programming. Uncertainty is introduced here through the para meters, the constraints, and the objective function and its impact evaluated. Specifically recent developments in applied research are emphasized, so that they can help the decision-maker arrive at a solution which has some desirable charac teristics like robustness, stability and cautiousness. Mathematical treatment is kept at a fairly elementary level and applied as pects are emphasized much more than theory. Moreover, an attempt is made to in corporate the economic theory of uncertainty into the stochastic theory of opera tions research. Methods of optimal decision rules illustrated he re are applicable in three broad areas: (a) applied economic models in resource allocation and economic planning, (b) operations research models involving portfolio analysis and stochastic linear programming and (c) systems science models in stochastic control and adaptive behavior.
Author | : Herbert Dawid |
Publisher | : Springer |
Total Pages | : 518 |
Release | : 2016-09-15 |
Genre | : Business & Economics |
ISBN | : 3319391208 |
Download Dynamic Perspectives on Managerial Decision Making Book in PDF, Epub and Kindle
This volume collects research papers addressing topical issues in economics and management with a particular focus on dynamic models which allow to analyze and foster the decision making of firms in dynamic complex environments. The scope of the contributions ranges from daily operational challenges firms face to strategic choices in dynamic industry environments and the analysis of optimal growth paths. The volume also highlights recent methodological developments in the areas of dynamic optimization, dynamic games and meta-heuristics, which help to improve our understanding of (optimal) decision making in a fast evolving economy.