15 articles for “stochastic control”

Research ArticleOpen accessIn the abstractMinority Serving College and University Cost EfficienciesG. Thomas SavProblem statement: Higher education minority enrollment growth has far outstripped white non-minority growth in the United States. Minority serving colleges and universities have disproportionately attended to that growth and will continue to play a critical role in providing minority educational opportunities in a knowledge based and globally diverse economy. However, they will face new and challenging budgetary and managerial reforms … …Journal of Social Sciences, Vol. 8, Issue 1 · 21 Jan 2012 · 7,843 accessesView PDF Cite

Research ArticleOpen accessIn the abstractDissecting Two Approaches to Energy PricesJulius N. Esunge, Andrew Snyder-BeattieProblem statement: This research tested the viability of Geometric Brownian Motion as a stochastic model of oil prices. Approach: Using autoregressions and unit root tests, we determined that oil prices tend not to exhibit the Markov Property and thus GBM may be a problematic model. Results: Instead, oil prices seem to be mean reverting over the long run, possibly following … …Journal of Mathematics and Statistics, Vol. 7, Issue 2 · 18 May 2011 · 7,100 accessesView PDF Cite

Research ArticleOpen accessIn the abstractApproximate Maximum Likelihood Commercial Bank Loan Management ModelGodwin Norense Osarumwense AsemotaProblem statement: Loan management is a very complex and yet, a vitally important aspect of any commercial bank operations. The balance sheet position shows the main sources of funds as deposits and shareholders contributions. Approach: In order to operate profitably, remain solvent and consequently grow, a commercial bank needs to properly manage its excess cash to yield returns in the … …Journal of Social Sciences, Vol. 5, Issue 4 · 31 Dec 2009 · 7,237 accessesView PDF Cite

Research ArticleOpen accessIn the abstractApplications of Conditional Value at Risk to Full Truckload Pricing Under Demand and Service Time UncertaintiesThitima Wonginta, Sompong SirisoponsilpProblem statement: Pricing is one of the fundamental management decisions required by a truckload carrier. Traditional pricing based on an average all relevant costs including fixed and variable costs is not capable of providing adequate margins that prevent losses during operation uncertainties inherent in truckload operation including demand variability and variation in service times. Approach: This study utilizes Conditional Value … …American Journal of Engineering and Applied Sciences, Vol. 4, Issue 1 · 28 Jan 2011 · 8,333 accessesView PDF Cite

Research ArticleOpen accessAll words, across the recordEconomic Ordering Quantity Model with Lead Time Reduction and Backorder Price Discount for Stochastic DemandMing-Cheng LoThis study considered reorder point on the continuous review inventory model under controllable lead time with mixture of backorder price discounts and partial lost sales. We developed a continuous review inventory model where the lead time, the order quantity, backorder discount and safety factor were considered as the decision variables of a mixture of backorders and lost sales inventory model. … …American Journal of Applied Sciences, Vol. 6, Issue 3 · 31 Mar 2009 · 7,018 accessesView PDF Cite