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Sharkey: How Much to Pay for More Bricks in the Lego Workshop? The Role of Shadow Prices.

15:05

Sharkey: Applying Prim's Algorithm to Solve a Minimum Spanning Tree Problem

9:14

Nurre: The I Love Lucy Chocolate Factory as a Queueing System

10:53

Sharkey: Applying Little’s Law to a New Stadium Screening Procedure

14:28

Sharkey: Modeling a Golf Hole as a Markov Chain and Determining Absorption Probabilities

28:42

Sharkey: First Passage Times and the Chutes and Ladders Markov Chain

14:07

Sharkey: Modeling a Market Share and Advertising Problem as a Markov Decision Process

This video was created by Tom. It focuses on modeling the market share of a company and its advertising decisions for each state as a Markov Decision Process. It then formulates a linear program in order to solve the MDP and help determine the optimal advertising decisions for each state of the underlying Markov Chain.
You can read about the problem description before viewing the video at: homepages.rpi.edu/~sharkt/MarkovChains.html

Відео

Sharkey: How Much to Pay for More Bricks in the Lego Workshop? The Role of Shadow Prices.

15:05

Sharkey: How Much to Pay for More Bricks in the Lego Workshop? The Role of Shadow Prices.

Переглядів 2049 років тому

This video was created by Tom. It focuses on determining how much you would be willing to acquire additional bricks in the Lego Workshop example. It discusses the notion of the shadow price of a resource in linear programming and their relationship with the simplex method and duality. You can obtain the problem description before viewing the video at: homepages.rpi.edu/~sharkt/LP.html

Sharkey: Applying Prim's Algorithm to Solve a Minimum Spanning Tree Problem

9:14

Sharkey: Applying Prim's Algorithm to Solve a Minimum Spanning Tree Problem

Переглядів 4859 років тому

This video was created by Tom. It focuses on how to apply Prim's algorithm to determine the minimum spanning tree in a network. You can view the problem description before viewing the video at: homepages.rpi.edu/~sharkt/networkopt.html

Nurre: The I Love Lucy Chocolate Factory as a Queueing System

10:53

Nurre: The I Love Lucy Chocolate Factory as a Queueing System

Переглядів 2929 років тому

This video was created by Sarah. It focuses on analyzing the I Love Lucy Chocolate Factory scene as a M/M/s/K queueing system. It discusses how this system is a birth and death process and then applies an approach to determine the key parameters of the queueing system including the average number of pieces of chocolate waiting to be wrapped, hidden, or eaten and the average time a piece of choc...

Sharkey: Applying Little’s Law to a New Stadium Screening Procedure

14:28

Sharkey: Applying Little’s Law to a New Stadium Screening Procedure

Переглядів 2979 років тому

This video was created by Tom. It focuses on modeling a new stadium screening procedure (similar those seen getting to gates at airports) as a queuing system. It then applies Little’s Law to understand the key properties of the system including the average amount of time that a fan spends in line. You can view the problem description before viewing the video at: homepages.rpi.edu/~sharkt/Queuei...

Sharkey: Modeling a Golf Hole as a Markov Chain and Determining Absorption Probabilities

28:42

Sharkey: Modeling a Golf Hole as a Markov Chain and Determining Absorption Probabilities

Переглядів 6669 років тому

This video was created by Tom. It focuses on modeling the playing of the 17th hole at TPC Sawgrass (the famous island green) as a Markov Chain with absorbing states. We discuss how to formulate and solve the equations associated with ending up in particular absorbing state to determine the likelihood that I will make a par or better on the hole. You can view the problem description before viewi...

Sharkey: First Passage Times and the Chutes and Ladders Markov Chain

14:07

Sharkey: First Passage Times and the Chutes and Ladders Markov Chain

Переглядів 1,7 тис.9 років тому

This video was created by Tom. It focuses on determining the expected first passage times of various states in the Chutes and Ladders Markov Chain. You can become familiar with this Markov Chain by watching the previous video. You can view the problem description before viewing the video at: homepages.rpi.edu/~sharkt/MarkovChains.html

Sharkey: Modeling Chutes and Ladders as a Markov Chain and its Steady-State Probabilities

22:14

Sharkey: Modeling Chutes and Ladders as a Markov Chain and its Steady-State Probabilities

Переглядів 4,3 тис.9 років тому

This video was created by Tom. It focuses on modeling a small-scale Chutes and Ladders game (that goes on forever) as a Markov Chain. It discusses the states of the Markov Chain, the transition probability matrix, and formulates the steady-state probability equations. It then solves this set of equations to determine the long-run percentage of time the Markov Chain spends in each state or, equi...

Sharkey: Deciding the Top Pick in a Draft with Decision Trees and Expert Predictions

30:51

Sharkey: Deciding the Top Pick in a Draft with Decision Trees and Expert Predictions

Переглядів 2419 років тому

This video was created by Tom. It focuses on helping a football team determine their top pick in the upcoming draft. We determine whether or not it is worth considering hiring an outside draft expert to evaluate the team’s candidates (if you are familiar with the team’s draft history of offensive players, the answer is obvious) and then using a decision tree to determine the best course of acti...

13:44

Sharkey: Double Dare and Decision Trees

Переглядів 3299 років тому

This video was created by Tom. It focuses on deciding whether or not for a team in Double Dare to pass the question to the other team and, if it is passed back, whether to answer the question or take the physical challenge. It then discusses how to use the decision tree to determine the correct sequence of decisions for this uncertain environment. You can view the problem description before vie...

Nurre: Determining the Efficient Frontier of A Call Center Staffing Problem

24:57

Nurre: Determining the Efficient Frontier of A Call Center Staffing Problem

Переглядів 3239 років тому

This video was created by Sarah. It focuses on determining which workers to employ in a call center during an emergency when there are two objectives. These objectives are responsiveness, defined as a short customer wait time, and efficiency (or utilization), defined as how often employees are working during their shift. It presents a method to construct the efficient frontier for these objecti...

Sharkey: Modeling a Monthly Budget Problem as a Goal Program

19:29

Sharkey: Modeling a Monthly Budget Problem as a Goal Program

Переглядів 3649 років тому

This video was created by Tom. It discusses how to formulate planning your monthly budget as a goal program. It then discusses how to create a linear program in order to model a situation where you care about different deviations from your bills, savings, and fun goals differently. You can view the problem description before viewing the video at: homepages.rpi.edu/~sharkt/MOO.html

Nurre: Applying a Branch and Bound Algorithm to Solve a Minimization Integer Program

23:14

Nurre: Applying a Branch and Bound Algorithm to Solve a Minimization Integer Program

Переглядів 21 тис.9 років тому

This video was created by Sarah. It discusses how to apply the branch and bound algorithm in order to solve an integer program with a minimization objective. It demonstrates the different criteria by which you can eliminate (or fathom) nodes in the branch and bound tree. You can view the problem description before viewing the video at: homepages.rpi.edu/~sharkt/IP.html

Nurre: Modeling and Solving a Farmer’s Market Problem as an Integer Program

24:56

Nurre: Modeling and Solving a Farmer’s Market Problem as an Integer Program

Переглядів 3759 років тому

This video was created by Sarah. It focuses on how to solve a problem faced by a farmer in terms of selecting where they will locate their stand over the coming weekend and then how they will stock it with apples and pumpkins. It then covers how to solve the resulting integer program using Excel Solver. You can view the problem description before viewing the video at: homepages.rpi.edu/~sharkt/...

Sharkey: Modeling an Auction-Based Fantasy Football Draft as a Binary Integer Program

13:25

Sharkey: Modeling an Auction-Based Fantasy Football Draft as a Binary Integer Program

Переглядів 6059 років тому

This video was created by Tom. It discusses how to formulate drafting a fantasy football team as an integer program. In particular, it focuses on an auction-style draft where each player is assigned a price before the draft. You can view the problem description before viewing the video at: homepages.rpi.edu/~sharkt/IP.html