Reconsider the example illustrating the use of chance constraints that was presented in Sec. 7.5. The concern
Question:
Suppose now that a more careful investigation of these available production times has considerably narrowed down the range of what these times might turn out to be with any significant likelihood. In particular, the means in Table 7.11 remain the same but the standard deviations have been cut in half. However, to add more insurance that the original constraints still will hold when production begins, the value of a has been increased to α = 0.99. It is still assumed that the available production time in each plant has a normal distribution.
(a) Use probability expressions to write the three chance constraints. Then show the deterministic equivalents of these chance constraints.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Question Posted: