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

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
(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
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/07/2011 for the course ISYE 3232 taught by Professor Billings during the Fall '07 term at Georgia Institute of Technology.

Page1 / 5

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

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online