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exam2011

# exam2011 - ISyE 3232 Exam 2 Spring 2011 Name Please be neat...

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ISyE 3232 Exam # 2 Spring 2011 Name Please be neat and show all your work so that I can give you partial credit. GOOD LUCK. Question 1 Question 2 Question 3 Question 4 Total 1

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(25) 1. Consider the policy evaluation problem that we did in class. A machine can be in four different states on a certain day: new, good, bad and dead. If it is new, it generates a profit of \$10,000 per day. If it is good, it generates a profit of \$5,000 per day. If it is bad, it generates a cost of \$1,000 per day and if it is dead it generates a cost of \$5,000 per day. When you let the machine to itself, if it is in state new today, it will be in state new tomorrow with probability 0.8 and it will be in state good tomorrow with probability 0.2, if it is in state good today, it will be in state good tomorrow with probability 0.6 and it will be in state bad tomorrow with probability 0.4, if it is in state bad today, it will be in state bad tomorrow with probability 0.5 and it will be in state dead tomorrow with probability 0.5. Finally, if the machine is in state dead today, it will be
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exam2011 - ISyE 3232 Exam 2 Spring 2011 Name Please be neat...

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