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Average cost under the PMλ, τ policy in a finite dam with compound Poisson inputs

Published online by Cambridge University Press:  14 July 2016

Jongho Bae*
Affiliation:
Jeonju University
Sunggon Kim*
Affiliation:
KAIST
Eui Yong Lee*
Affiliation:
Sookmyung Women's University
*
Postal address: Department of Mathematics, Jeonju University, Jeonju, 560-759, Republic of Korea. Email address: jongho@jeonju.ac.kr
∗∗ Postal address: Department of Electrical Engineering and Computer Science, KAIST, Daejon, 305-701, Republic of Korea.
∗∗∗ Postal address: Department of Statistics, Sookmyung Women's University, Seoul, 140-742, Republic of Korea.

Abstract

We consider the policy in a finite dam in which the input of water is formed by a compound Poisson process and the rate of water release is changed instantaneously from a to M and from M to a (M > a) at the moments when the level of water exceeds λ and downcrosses τ (λ > τ) respectively. After assigning costs to the changes of release rate, a reward to each unit of output, and a cost related to the level of water in the reservoir, we determine the long-run average cost per unit time.

Type
Short Communications
Copyright
Copyright © Applied Probability Trust 2003 

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References

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