Abstract
A systematic optimization procedure is developed for the design of a plant which is subject to uncertain, seasonal production. Based on a generalized seasonal production model, the present value of the cash flows associated with production by means of a combination of alternates is expressed in terms of the unknown capacities. On the basis of the derived solution, a systematic procedure is presented which yields optimum designs without reference to the involved mathematics. Finally, the more important assumptions are removed and suggestions are given with respect to the modifications that are required in order to extend the method to more complex problems.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
