Question: Consider the inventory example introduced in Sec 29 1 but with

Consider the inventory example introduced in Sec. 29.1, but with the following change in the ordering policy. If the number of cameras on hand at the end of each week is 0 or 1, two additional cameras will be ordered. Otherwise, no ordering will take place. Assume that the storage costs are the same as given in the second subsection of Sec. 29.5.
(a) Find the steady-state probabilities of the state of this Markov chain.
(b) Find the long-run expected average storage cost per week.

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  • CreatedSeptember 22, 2015
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