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WOOD 492 MODELLING FOR DECISION SUPPORT

WOOD 492 MODELLING FOR DECISION SUPPORT. Lecture 12 Duality Theory. Quiz 3. A multi period production plan Maximize revenue Limited production capacity Limited storage capacity Seasonal demand Storage costs. Quiz3 matrix. The Dual model.

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Duality

Duality. Chapter 3 simplex method. Duality. Every linear programming problem has associated with it, another linear programming problem involving the same data and closely related optimal solutions. Such two problems are said to be duals of each other.

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The error-correction model Consider the general ARDL(1,1) model

The error-correction model Consider the general ARDL(1,1) model. This can be written as:. This is the error-correction form of the model. The important features of the error-correction model are: 1. A relationship between the growth rate (or differences) of the

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Economic interpretations - PowerPoint PPT Presentation

WOOD 492 MODELLING FOR DECISION SUPPORT

Duality

The error-correction model Consider the general ARDL(1,1) model