At the beginning of each week, a machine is in one of four conditions (states): excellent (E),
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At the beginning of each week, a machine is in one of four conditions (states): excellent
(E), good (G), average (A), or bad (B). The weekly revenue earned by a machine in each type of condition is as follows: excellent, $100; good, $80; average, $50; bad, $10. After observing the condition of a machine at the beginning of the week, we have the option of instantaneously replacing it with an excellent machine, which costs $200. The quality of a machine deteriorates over time, as shown in Table 8. For this situation, determine the state space, decision sets, transition probabilities, and expected rewards
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Operations Research Applications And Algorithms
ISBN: 9780534380588
4th Edition
Authors: Wayne L. Winston
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