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Stochastic Fractional Programming Approach to a Mean and Variance Model of a Transportation Problem

Author

Listed:
  • V. Charles
  • V. S. S. Yadavalli
  • M. C. L. Rao
  • P. R. S. Reddy

Abstract

In this paper, we propose a stochastic programming model, which considers a ratio of two nonlinear functions and probabilistic constraints. In the former, only expected model has been proposed without caring variability in the model. On the other hand, in the variance model, the variability played a vital role without concerning its counterpart, namely, the expected model. Further, the expected model optimizes the ratio of two linear cost functions where as variance model optimize the ratio of two non-linear functions, that is, the stochastic nature in the denominator and numerator and considering expectation and variability as well leads to a non-linear fractional program. In this paper, a transportation model with stochastic fractional programming (SFP) problem approach is proposed, which strikes the balance between previous models available in the literature.

Suggested Citation

  • V. Charles & V. S. S. Yadavalli & M. C. L. Rao & P. R. S. Reddy, 2011. "Stochastic Fractional Programming Approach to a Mean and Variance Model of a Transportation Problem," Mathematical Problems in Engineering, Hindawi, vol. 2011, pages 1-12, June.
    • Handle: RePEc:hin:jnlmpe:657608
    DOI: 10.1155/2011/657608
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