International Journal of Statistics and Applied Mathematics
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International Journal of Statistics and Applied Mathematics

2018, Vol. 3, Issue 2, Part E

Solution of multistage decision making problem through dynamic programming


Author(s): Mobin Ahmad

Abstract: Dynamic programming is an optimization approach that transforms a complex problem into a sequence of simpler problems; its essential characteristic is the multistage nature of the optimization procedure. More so than the optimization techniques described previously, dynamic programming provides a general framework for analyzing many problem types. Within this framework a variety of optimization techniques can be employed to solve particular aspects of a more general formulation. Usually creativity is required before we can recognize that a particular problem can be cast effectively as a dynamic program; and often subtle insights are necessary to restructure the formulation so that it can be solved effectively.

Pages: 343-345 | Views: 606 | Downloads: 30

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How to cite this article:
Mobin Ahmad. Solution of multistage decision making problem through dynamic programming. International Journal of Statistics and Applied Mathematics. 2018; 3(2): 343-345.
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