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Optimization under parameter uncertainties with application to product cost minimization
Mälardalen University, School of Education, Culture and Communication.
2018 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

This report will look at optimization under parameters of uncertainties. It will describe the subject in its wider form, then two model examples will be studied, followed by an application to an ABB product. The Monte Carlo method will be described and scrutinised, with the quasi-Monte Carlo method being favoured for large problems. An example will illustrate how the choice of Monte Carlo method will affect the efficiency of the simulation when evaluating  functions of different dimensions. Then an overview of mathematical optimization is given, from its simplest form to nonlinear, nonconvex  optimization problems containing uncertainties.A Monte Carlo simulation is applied to the design process and cost function for a custom made ABB transformer, where the production process is assumed to contain some uncertainties.The result from optimizing an ABB cost formula, where the in-parameters contains some uncertainties, shows how the price can vary and is not fixed as often assumed, and how this could influence an accept/reject decision.

Place, publisher, year, edition, pages
2018. , p. 69
Keywords [en]
Monte Carlo simulations, Quasi Monte Carlo, Non-linear Optimization, quasi-random sequences, transformer design process
National Category
Mathematics
Identifiers
URN: urn:nbn:se:mdh:diva-38858OAI: oai:DiVA.org:mdh-38858DiVA, id: diva2:1191315
External cooperation
ABB Corporate Research, Västerås
Subject / course
Mathematics/Applied Mathematics
Presentation
2018-01-25, 08:34 (English)
Supervisors
Examiners
Available from: 2018-03-19 Created: 2018-03-18 Last updated: 2018-03-19Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf