WOOD 492 MODELLING FOR DECISION SUPPORT
... • quantitative representation of a system, showing the inter-relationships of its different components • Is used to show the essence of a business/economic problem • A mathematical model has 4 components: ...
... • quantitative representation of a system, showing the inter-relationships of its different components • Is used to show the essence of a business/economic problem • A mathematical model has 4 components: ...
GENERAL ASSIGNMENT PROBLEM via Branch and Price
... If the maximal reduced costs of all the KPs are non-positive, then the LP solution obtained is also maximal for the relaxation of the UN-RESTRICTED master problem. ...
... If the maximal reduced costs of all the KPs are non-positive, then the LP solution obtained is also maximal for the relaxation of the UN-RESTRICTED master problem. ...
4-60. Find the point of intersection of each pair of
... In this chapter, you have learned the substitution method for solving systems of equations. You also studied how to set two equations equal to each other. But are these methods the best to use for all types of systems? Today you will develop a new solution method that can save time for systems of li ...
... In this chapter, you have learned the substitution method for solving systems of equations. You also studied how to set two equations equal to each other. But are these methods the best to use for all types of systems? Today you will develop a new solution method that can save time for systems of li ...
Lecture 1 — Clustering in metric spaces 1.1 Why clustering? 1.2
... This is the case during exploratory data analysis, when a new data set is first examined to get a sense of its gross structure. At this stage, it is useful to get an idea of significant cluster structure. Another example is topic modeling, where documents or images need to be grouped in a manner tha ...
... This is the case during exploratory data analysis, when a new data set is first examined to get a sense of its gross structure. At this stage, it is useful to get an idea of significant cluster structure. Another example is topic modeling, where documents or images need to be grouped in a manner tha ...
Solutions to InClass Problems Week 14, Mon.
... Problem 3. The number of squares that a piece advances in one turn of the game Monopoly is determined as follows: • Roll two dice, take the sum of the numbers that come up, and advance that number of squares. • If you roll doubles (that is, the same number comes up on both dice), then you roll a s ...
... Problem 3. The number of squares that a piece advances in one turn of the game Monopoly is determined as follows: • Roll two dice, take the sum of the numbers that come up, and advance that number of squares. • If you roll doubles (that is, the same number comes up on both dice), then you roll a s ...
Multiple-criteria decision analysis
Multiple-criteria decision-making or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly considers multiple criteria in decision-making environments. Whether in our daily lives or in professional settings, there are typically multiple conflicting criteria that need to be evaluated in making decisions. Cost or price is usually one of the main criteria. Some measure of quality is typically another criterion that is in conflict with the cost. In purchasing a car, cost, comfort, safety, and fuel economy may be some of the main criteria we consider. It is unusual that the cheapest car is the most comfortable and the safest one. In portfolio management, we are interested in getting high returns but at the same time reducing our risks. Again, the stocks that have the potential of bringing high returns typically also carry high risks of losing money. In a service industry, customer satisfaction and the cost of providing service are two conflicting criteria that would be useful to consider.In our daily lives, we usually weigh multiple criteria implicitly and we may be comfortable with the consequences of such decisions that are made based on only intuition. On the other hand, when stakes are high, it is important to properly structure the problem and explicitly evaluate multiple criteria. In making the decision of whether to build a nuclear power plant or not, and where to build it, there are not only very complex issues involving multiple criteria, but there are also multiple parties who are deeply affected from the consequences.Structuring complex problems well and considering multiple criteria explicitly leads to more informed and better decisions. There have been important advances in this field since the start of the modern multiple-criteria decision-making discipline in the early 1960s. A variety of approaches and methods, many implemented by specialized decision-making software, have been developed for their application in an array of disciplines, ranging from politics and business to the environment and energy.