This paper describes a problem in which the "cost" of satisfying the demand at a particular location is a weighted average of the travel times for the items that are supplied. The greatest weight is given to the first-arriving item, with decreasing weights given to each succeeding item. In the...

In deciding how many units to dispatch to an incoming alarm of unknown seventy the fire department is faced with a dilemma: If too few units are sent initially the extra units needed will be delayed; if too many units are sent, the extra units make a needless response and are temporarily...

Connecticut and other states not in compliance with federal air quality standards are required to implement a motor vehicle inspection program to test vehicles for pollutants---hydrocarbons and carbon monoxide. The problem is to determine the number, size, and locations of stations given...

In the scheduling situation considered here, we are given a set of routes, each associated with a particular school. A single bus is assigned to each route, picking up the students and arriving at their school within a specified time window. The scheduling problem is to find the fewest buses...

This paper examines the forecasting accuracy and the cost effectiveness of time series models with time-varying coefficients. A simulation study investigates the potential forecasting benefits of a proposed Kalman filter type adaptive estimation and forecasting approach. It is found that: (1)...

Although there is consensus in the finance literature that the beta risk of equity securities is stochastic, there is considerable disagreement as to whether the var iation is purely random or exhibits autocorrelation through time. To investigate this issue, the authors employ a model that...