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OPTIMIZATION ANALYTICS 2 - Coggle Diagram

- - - - scenario based approach
        
        assumes there are finite future scenarios
  - - - 3 ways
        
        solve for reasonable value, estimated value
        
        chance constraints = ensure feasibilty within a certain degree of conficence
        
        Penalize shortfalls: accept infeasibity, turn hard into soft constraints
    - - basically has three scenarios, base, good and bad.
- - - - epochs = times at which decisions
      - transition probabilities pt(s0|s, a)
        
        transition to state s0 froms tate s given action a
      - rewards = cost or benefit depend on action