Hashnayne Ahmed
Department of Mathematics, University of Barishal, Barishal-8200, Bangladesh

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Formulation of Two-Stage Stochastic Programming with Fixed Recourse Hashnayne Ahmed
Britain International of Exact Sciences (BIoEx) Journal Vol 1 No 1 (2019): Britain International of Exact Sciences Journal, September
Publisher : Britain International for Academic Research (BIAR) Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/bioex.v1i1.23

Abstract

Stochastic Programming is an asset for the next world researchers due to its uncertainty calculations, which has been skipped in deterministic world experiments as it includes complicated calculations. Two-stage stochastic programming concerns two time period decisions based on some random parameters obtained from past experience or some sort of survey. The objective function for formulating two-stage stochastic programming with fixed recourse includes two parts: first-stage forecast and second-stage fixed decisions based on the experiment results. The constraints are similar to the normal optimization techniques rather some adjustments of requirements and technology assets. The fixed recourse decisions are sort of decisions from the deterministic world. Formulation techniques of two-stage stochastic programming with fixed recourse may be used for further complications arises in stochastic programming like complete recourse problems, multi-stage problems, etc. And that’s why Two-stage stochastic programming with fixed recourse is called the primary model for stochastic programming.