Abstract
The problem discussed is that of determining optimal release rates for finite dams when the release rate may take one of two values and specific costs are involved in increasing and decreasing this release rate. From another point of view, this is a problem of controlling the output simply by switching on and off. A diffusion model is suggested and by considering a family of plausible output policies an optima procedure, which minimises the long-term average cost of operating the dam, is established. Various properties of this output policy are given.
Publisher
Cambridge University Press (CUP)
Subject
Statistics, Probability and Uncertainty,General Mathematics,Statistics and Probability
Reference3 articles.
1. A diffusion model for the control of a dam
2. Control charts and the minimisation of costs;Bather;J. R. Statist. Soc. B,1963
Cited by
56 articles.
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