TITLE:
Stochastic Reservoir Systems with Different Assumptions for Storage Losses
AUTHORS:
Carter Browning, Hillel Kumin
KEYWORDS:
Stochastic Storage Systems, Storage Losses, Probability of Emptiness and Overflow
JOURNAL NAME:
American Journal of Operations Research,
Vol.6 No.5,
September
28,
2016
ABSTRACT: Moran considered a dam whose inflow in a given interval of time is a continuous random variable. He then developed integral equations for the probabilities of emptiness and overflow. These equations are difficult to solve numerically; thus, approximations have been proposed that discretize the input. In this paper, extensions are considered for storage systems with different assumptions for storage losses. We also develop discrete approximations for the probabilities of emptiness and overflow.