• Publications of The Korean Astronomical Society
• /
• v.20 no.1 s.24
• /
• pp.109-116
• /
• 2005

When we measure a source signal in the presence of a background rate that has been independently measured, the usual approach is to obtain an estimate of the background rate by observing an empty part of the sky, and an estimate of the source signal plus background rate by observing the region where a source signal is expected. The source signal rate is then estimated by subtracting the background rate from the source signal plus background rate. However, when the rates or their observation times are small, this procedure can lead to negative estimates of the source signal rate, even when it should produce a positive value. By applying the Bayesian approach, we solve the problem and prove that the most probable value of source signal rate is zero when the observed total count is smaller than the expected background counts. It is also shown that the results from the conventional method is consistent with the most probable value obtained from the Bayesian approach when the source signal is large or the observation time is long enough.

• Journal of the Society of Naval Architects of Korea
• /
• v.41 no.2
• /
• pp.47-54
• /
• 2004

Exact solution on the vertical responses of ships having uniform sectional properties in waves is derived. Boundary value problem consisted of Timoshenko beam equation and free-free end condition is solved analytically. The responses are assumed as linear and wave loads are calculated by using strip method. Vertical bending moment, shear force and deflection are calculated. The developed analysis model is used for the benchmark test of the numerical codes in this problem. Also the application on the preliminary design of barge-like ships and VLFS (Very Large Floating Structure) is expected.

• International conference on construction engineering and project management
• /
• 2022.06a
• /
• pp.3-10
• /
• 2022

An estimated investment gap of $176 billion needs to be filled over the next ten years to improve America's inland waterway transportation systems. Many of these infrastructure systems are now beyond their original 50-year design life and are often behind in maintenance due to funding constraints. Therefore, long-term maintenance strategies (i.e., asset management (AM) strategies) are needed to optimize investments across these waterway systems to improve their condition. Two common AM strategies include policy-driven maintenance and performance-driven maintenance. Currently, limited research exists on selecting the optimal AM approach for managing inland waterway transportation assets. Therefore, the goal of this study is to provide a decision model that can be used to select the optimal alternative between the two AM approaches by considering key uncertainties such as asset condition, asset test results, and asset failure. We achieve this goal by addressing the decision problem as a single-criterion problem, which calculates each alternative's expected value and certain equivalence using allocated monetary values to determine the recommended alternative for optimally maintaining navigable waterways. The decision model considers estimated and predicted values based on the current state of the infrastructure. This research concludes that the performance-based approach is the optimal alternative based on the expected value obtained from the analysis. This research sets the stage for further studies on fiscal constraints that will effectively optimize these assets condition.

• Earthquakes and Structures
• /
• v.9 no.4
• /
• pp.851-873
• /
• 2015

A methodology for estimation of statistical properties (viz. mean and standard deviation) of the expected seismic damage to reinforced concrete framed structures subject to corrosion of reinforcement, over a specified reference time (typically the service life of the structure) is proposed in this paper. The damage to the structure under the earthquake loading is characterised by the damage index, determined using the modified Park and Ang damage model. The reduction in area, yield strength and strain at ultimate of steel reinforcement, and the reduction in compressive strength of cover concrete due to corrosion are taken into account in the estimation of damage. The proposed methodology is illustrated through an example problem. From the results obtained, it is noted that there is an increase of about 70% in the mean value of expected seismic damage to the reinforced concrete frame considered over a reference time of 30 years when effect of corrosion is taken into consideration. This indicates that there is a need to consider the effect of corrosion of reinforcement on the estimation of expected seismic damage.

• Journal of the Korea Institute of Building Construction
• /
• v.13 no.4
• /
• pp.382-390
• /
• 2013

Recently, the housing problem has been recognized as a matter of housing supply with a certain environmental level and not simply a matter of handing as a quantitative problem, and the demand for pleasant residential environments and requirements for residential environments are increasing more and more. However, it is necessary to establish the directions for improvement of the residential environment according to the house type, as the requirements and levels of satisfaction differ. This study aimed to deduce the level of resident satisfaction with the residential environments according to house type, and determine the direction for improvement of the residential environment. To achieve this, the difference between the house types was analyzed through ANOVA analysis and T-Test, and the major factors on the improvement direction of the residential environment were derived through Action-grid analysis.

• 한국경영정보학회:학술대회논문집
• /
• 2008.06a
• /
• pp.957-962
• /
• 2008

We propose a model for the line expansion problem in the AMOLED (Active Matrix Organic Light Emitting Diodes) industry, which now faces market uncertainty: for example, changing customer needs, technological development path, etc. We focus on the optimal investment time and size of the AMOLED production lines. In particular, employed here is the ROV (Real Options Valuation) model to show how to capture the value of line expansion and to determine the optimal investment time. The ROV framework provides a systematic procedure to quantify an expected outcome of a flexible decision which is not possible in the frame of the traditional NPV (Net Present Value) approach. Furthermore, we also use Monte Carlo simulation to measure the uncertainty associated with the line expansion decision; Monte Carlo simulation estimates the volatility of a decision alternative. Lastly, we present a scenario planning to be conducted for what-if analysis of the ROV model.

• IE interfaces
• /
• v.24 no.4
• /
• pp.295-303
• /
• 2011

This paper presents a discrete time optimal asset buying problem with a predetermined final deadline where an available budget is limited. A cost is paid to search for assets called the search cost. A seller who shows up offers a price for the asset and then the buyer decides whether or not to buy the asset by comparing the offered price to his optimal selection threshold. When the budget becomes less than the search cost or the price of the asset the buyer can get a necessary loan with some interests. We clarify the properties of the buyer's optimal selection threshold in order to maximize the expected value of budget which is left after paying all the search costs and the price of the asset at that point in time.

• Journal of the Korea Society of Computer and Information
• /
• v.11 no.2 s.40
• /
• pp.303-317
• /
• 2006

The process of segmenting customers in CRM should take into equal consideration both the companies' and customers' expected value. However, most of the current studies on customer segmentation have focused only on the companies view in terms of profitability. This study focuses on clarifying a problem and proposing a modified view in the customer segmentation step. The authors offer a proposition which is beneficial to both customers and companies, and thus makes the segmentation step more balanced. There is a two-pronged focus on customer segmentation in this study: first, this paper proposes a balanced view considering not only companies' expected value, but also that of the customers'. Secondly, such balanced segmentation will give a more accurate definition of loyal customers for a given company. This new approach can be expected to improve the level of satisfaction and the length of customer retention, and to increase effectiveness in corporate resource allocation for customer target marketing, as well as improve company insight into customer needs and preferences.

• Journal of the Korean Operations Research and Management Science Society
• /
• v.37 no.3
• /
• pp.13-21
• /
• 2012

In this note, a recent work in Won (2011) which investigates properties of the newsvendor model under progressive multiple discounts is revisited and a complete proof is provided for the conjecture on the consistent advantage of progressive multiple discounts over no-discounts in terms of the expected profit. The proof considers the generalized newsvendor model under progressive multiple discounts extended with positive shortage cost and salvage value which have not been considered in the previous newsvendor models under progressive multiple discounts. Without relying on derivatives, we prove that the expected profit under progressive multiple discounts are consistently greater than or equal to the one under no-discounts for every order quantity as far as her multiple discounts do not decrease customer demand, and therefore, the optimal expected profit under progressive multiple discounts is always greater than or equal to the one under no-discounts. As by-products from the proof, some interesting features of the generalized newsvendor model under progressive multiple discounts are revealed.

• Journal of Korean Institute of Industrial Engineers
• /
• v.6 no.2
• /
• pp.21-29
• /
• 1980

This paper deals with the capital budgeting problem of a firm where investments are risky and interrelated. The established models might be classified into two categories; One is the chance-constrained programming model and the other is the expected utility maximization model. The former has a rather limited objective function and does not consider the risk in direct manner. The latter, on the other hand, might lead to a wrong decision because it uses an approximate value of expected utility. This paper attempts to extend the applicability of the chance-constrained programming model by modifying its objective function into a more general form. The capital budgeting problem is formulated as a nonlinear 0-1 integer programming problem first, and is formulated into a linear 0-1 integer programming problem for finding a lower-bound solution of the original problem. The optimal solution of the original problem is then obtained by branch & bound algorithm.