Abstract:
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This project will study the model of Frozen Concentrated Orange Juice (FCOJ)
by [10] from a stochastic point of view. A review of the literature around stochastic
processes, stochastic linear problems and two-stage stochastic linear problems is
done. EVPI and VSS as most important numerical tools to evaluate stochastic linear
systems are studied. The problem of FCOJ is explained, before being modi ed to
allow stochastic demand. Several cases with di erent data are solved and their results
are discussed, turning out that FCOJ problem behaves fairly well under stochastic
demand. |