May 2015
Intermediate to advanced
466 pages
10h 33m
English
Content preview from Optimization
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11
Dynamic Programming
11.1 Introduction
Dynamic programming is an optimization technique in which a complex opti-
mization problem is divided into a number of stages (or subproblems) in which
a policy decision has to be taken at each stage. The stages are solved sequen-
tially, one by one. The stages generally represent a time-varying phenomenon
such as the amount of inventory in a store. Dynamic programming thus refers
to planning of a time-varying system. The series of interrelated decisions taken
at each stage is done using the state information associated with that stage and
has to be suitably linked with the next stage. The dimensionali ...
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