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- W1501083314 abstract "Dynamic programming was utilized as an alternative optimization technique to determine an optimal policy over a given time period. According to a joint effect of the probabilistic transition of states and the sequence of decision making, the optimal policy is sought such that a set of decisions optimizes the long-run expected average cost (or profit) per unit time. Provision of an alternative measure for the expected long-run total discounted costs is also considered. A computer program based on the concept of the Markov Decision Process was developed and tested. The program code listing, the statement of a sample problem, and the computed results are presented." @default.
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- W1501083314 date "1982-02-15" @default.
- W1501083314 modified "2023-09-26" @default.
- W1501083314 title "Optimum equipment maintenance/replacement policy. Part 2: Markov decision approach" @default.
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