In addition to other methods we’ve discussed, a third type of variable spending model uses dynamic programming methods. These methods rely on complex computing power and mathematical equations to ...

We present an Approximate Dynamic Programming (ADP) approach for the multidimensional knapsack problem (MKP). We approximate the value function (a) using parametric and nonparametric methods and (b) ...

Consider the problem of minimizing the required number of work stations on an assembly line for a given cycle time when the processing times are independent, normally distributed random variables. The ...

Mathematical Background: We expect that the student is comfortable with basic mathematics at the level of a U.S. first-year college STEM student. This includes basic notions such as sets and functions ...