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Full-Text Articles in Business

Deterministic And Stochastic Bellman's Optimality Principles On Isolated Time Domains And Their Applications In Finance, Nezihe Turhan May 2011

Deterministic And Stochastic Bellman's Optimality Principles On Isolated Time Domains And Their Applications In Finance, Nezihe Turhan

Masters Theses & Specialist Projects

The concept of dynamic programming was originally used in late 1949, mostly during the 1950s, by Richard Bellman to describe decision making problems. By 1952, he refined this to the modern meaning, referring specifically to nesting smaller decision problems inside larger decisions. Also, the Bellman equation, one of the basic concepts in dynamic programming, is named after him. Dynamic programming has become an important argument which was used in various fields; such as, economics, finance, bioinformatics, aerospace, information theory, etc. Since Richard Bellman's invention of dynamic programming, economists and mathematicians have formulated and solved a huge variety of sequential decision …


Confidence Intervals For The Ratio Of Two Exponential Means With Applications To Quality Control, James Albert Polcer,Iii Jun 2009

Confidence Intervals For The Ratio Of Two Exponential Means With Applications To Quality Control, James Albert Polcer,Iii

Student Research Conference Select Presentations

We considered the problem of statistical quality control based on the ratio of two population means. We restrict the discussion for two exponential rates, which are commonly used for modeling failure times of components, machines, or systems. Closed form expressions via the moment generation function (MGF) technique will be presented, and numerical examples will be shown using engineering data sets.