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PRODID:UW-Madison-Physics-Events
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SEQUENCE:1
UID:UW-Physics-Event-4721
DTSTART:20180130T180500Z
DTEND:20180130T190000Z
DTSTAMP:20260419T040338Z
LAST-MODIFIED:20180116T215329Z
LOCATION:4274 Chamberlin (Refreshments will be served)
SUMMARY:Stochastic optimization: Making complex design\, planning\, an
 d operation decisions in the face of uncertainty\, Chaos & Complex Sys
 tems Seminar\, Jim Luedtke\, UW Department of Industrial Engineering
DESCRIPTION:Stochastic optimization is a branch of mathematical optimi
 zation concerned with helping make design\, planning\, and operation d
 ecisions in the face of uncertain outcomes or data. Example applicatio
 ns of stochastic optimization include: planning power generation in sy
 stems with uncertainty in wind outputs and rainfall (which effects hyd
 ro-reservoir levels)\; deciding order quantities at a retailer with un
 certain customer demands\; and making financial investments without kn
 owing the returns the different investment options will yield. I will 
 provide an overview of the field stochastic optimization\, with a bias
  towards topics related to my research.  I will focus on discussing di
 fferent types of models and when they might be useful\, and\, time per
 mitting\, will overview some of the solution approaches.
URL:https://www.physics.wisc.edu/events/?id=4721
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