Consider a modification of the model in the previous problem in which G, follows an exponential…

Consider a modification of the model in the previous problem in which G, follows an exponential distribution with rates as above.

a. Use the uniformization transformation to obtain equivalent discounted and

b. Find optimal policies for each of these models.

c. Compare the work needed to formulate and solve the uniformization to that needed to solve the problem directly using the semi-Markov decision process formulation.

d. Solve a discrete-time version of the model under the assumption that decision epochs occur every 0.05 units of time. Compare the effort needed to solve the problem in this way to the uniformization and semi-Markov decision process approach.

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