Main Index Computation Index
Operations Research Models and Methods / Computation

Unit Stochastic Models


The Stochastic Models add-in constructs Markov Chain and Markov Process models. It creates a model worksheet that carries symbolic definitions of the states, events and transitions that define the process. By selecting the Model menu option, the student may choose between several model types. The add-in constructs a model worksheet with appropriate formulas automatically entered. Parameters on the worksheet specify features of the model. A click of a button constructs the Markov Chain or Markov Process on a different worksheet. It is then ready to be analyzed with the appropriate add-in.

The General menu option constructs models with specified numbers of state and decision variables. The student then must enter in the logical and numerical functions that define the model.

The Relink Buttons command is useful when opening a workbook containing a model in a different computer than the one in which the model was created. The command deletes the old buttons are replaces them with buttons linked to the add-in in the new computer.

We show the menu with the Markov Chain and Markov Process add-ins installed. At least one of these must be installed in order to construct the model. Note: The Markov Chain and Markov Process add-ins have been replaced with the Stochastic Analysis add-in.

Main Index Computation Index

Updated 3/6/01
Operations Research Models and Methods
by Paul A. Jensen and Jon Bard, University of Texas, Copyright by the Authors