Search results for: Markov decision processes

Authors: Nop Sopipan

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In this paper, we forecast the volatility of Baht/USDs using Markov Regime Switching GARCH (MRS-GARCH) models. These models allow volatility to have different dynamics according to unobserved regime variables. The main purpose of this paper is to find out whether MRS-GARCH models are an improvement on the GARCH type models in terms of modeling and forecasting Baht/USD volatility. The MRS-GARCH is the best performance model for Baht/USD volatility in short term but the GARCH model is best perform for long term.

Keywords: volatility, Markov Regime Switching, forecasting, Baht/USD

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Authors: Josip Arneric, Blanka Skrabic Peric

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Forecasting of volatility, i.e. returns fluctuations, has been a topic of interest to portfolio managers, option traders and market makers in order to get higher profits or less risky positions. Based on the fact that volatility is time varying in high frequency data and that periods of high volatility tend to cluster, the most common used models are GARCH type models. As standard GARCH models show high volatility persistence, i.e. integrated behaviour of the conditional variance, it is difficult the predict volatility using standard GARCH models. Due to practical limitations of these models different approaches have been proposed in the literature, based on Markov switching models. In such situations models in which the parameters are allowed to change over time are more appropriate because they allow some part of the model to depend on the state of the economy. The empirical analysis demonstrates that Markov switching GARCH model resolves the problem of excessive persistence and outperforms uni-regime GARCH models in forecasting volatility for selected emerging markets.

Keywords: emerging markets, Markov switching, GARCH model, transition probabilities

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Authors: Ahmed Al-Adaileh

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Renewable energy sources, domestic storage systems, controllable loads and machine learning technologies will be key components of future smart homes management systems. An energy management scheme that uses a Deep Learning (DL) approach to support the smart home management systems, which consist of a standalone photovoltaic system, storage unit, heating ventilation air-conditioning system and a set of conventional and smart appliances, is presented. The objective of the proposed scheme is to apply DL-based machine learning to predict various running parameters within a smart home's environment to achieve maximum comfort levels for occupants, reduced electricity bills, and less dependency on the public grid. The problem is using Reinforcement learning, where decisions are taken based on applying the Continuous-time Markov Decision Process. The main contribution of this research is the proposed framework that applies DL to enhance the system's supervised dataset to offer unlimited chances to effectively support smart home systems. A case study involving a set of conventional and smart appliances with dedicated processing units in an inhabited building can demonstrate the validity of the proposed framework. A visualization graph can show "before" and "after" results.

Keywords: smart homes systems, machine learning, deep learning, Markov Decision Process

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Authors: C. S. Subhashini, H. L. Premaratne

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Landslides are the most recurrent and prominent disaster in Sri Lanka. Sri Lanka has been subjected to a number of extreme landslide disasters that resulted in a significant loss of life, material damage, and distress. It is required to explore a solution towards preparedness and mitigation to reduce recurrent losses associated with landslides. Artificial Neural Networks (ANNs) and Hidden Markov Model (HMMs) are now widely used in many computer applications spanning multiple domains. This research examines the effectiveness of using Artificial Neural Networks and Hidden Markov Model in landslides predictions and the possibility of applying the modern technology to predict landslides in a prominent geographical area in Sri Lanka. A thorough survey was conducted with the participation of resource persons from several national universities in Sri Lanka to identify and rank the influencing factors for landslides. A landslide database was created using existing topographic; soil, drainage, land cover maps and historical data. The landslide related factors which include external factors (Rainfall and Number of Previous Occurrences) and internal factors (Soil Material, Geology, Land Use, Curvature, Soil Texture, Slope, Aspect, Soil Drainage, and Soil Effective Thickness) are extracted from the landslide database. These factors are used to recognize the possibility to occur landslides by using an ANN and HMM. The model acquires the relationship between the factors of landslide and its hazard index during the training session. These models with landslide related factors as the inputs will be trained to predict three classes namely, ‘landslide occurs’, ‘landslide does not occur’ and ‘landslide likely to occur’. Once trained, the models will be able to predict the most likely class for the prevailing data. Finally compared two models with regards to prediction accuracy, False Acceptance Rates and False Rejection rates and This research indicates that the Artificial Neural Network could be used as a strong decision support system to predict landslides efficiently and effectively than Hidden Markov Model.

Keywords: landslides, influencing factors, neural network model, hidden markov model

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Authors: Khenfer Koummich Fatma, Hendel Fatiha, Mesbahi Larbi

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This paper presents an approach based on Hidden Markov Models (HMM: Hidden Markov Model) using HTK tools. The goal is to create a human-machine interface with a voice recognition system that allows the operator to teleoperate a mentor robot to execute specific tasks as rotate, raise, close, etc. This system should take into account different levels of environmental noise. This approach has been applied to isolated words representing the robot commands pronounced in two languages: French and Arabic. The obtained recognition rate is the same in both speeches, Arabic and French in the neutral words. However, there is a slight difference in favor of the Arabic speech when Gaussian white noise is added with a Signal to Noise Ratio (SNR) equals 30 dB, in this case; the Arabic speech recognition rate is 69%, and the French speech recognition rate is 80%. This can be explained by the ability of phonetic context of each speech when the noise is added.

Keywords: Arabic speech recognition, Hidden Markov Model (HMM), HTK, noise, TIMIT, voice command

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Authors: Mehdi Asgarkhani

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Today, investment on Information Technology (IT) solutions in most organizations is the largest component of capital expenditure. As capital investment on IT continues to grow, IT managers and strategists are expected to develop and put in practice effective decision making models (frameworks) that improve decision-making processes for the use of IT in organizations and optimize the investment on IT solutions. To be exact, there is an expectation that organizations not only maximize the benefits of adopting IT solutions but also avoid the many pitfalls that are associated with rapid introduction of technological change. Different organizations depending on size, complexity of solutions required and processes used for financial management and budgeting may use different techniques for managing strategic investment on IT solutions. Decision making processes for strategic use of IT within organizations are often referred to as IT Governance (or Corporate IT Governance). This paper examines IT governance - as a tool for best practice in decision making about IT strategies. Discussions in this paper represent phase I of a project which was initiated to investigate trends in strategic decision making on IT strategies. Phase I is concerned mainly with review of literature and a number of case studies, establishing that the practice of IT governance, depending on the complexity of IT solutions, organization's size and organization's stage of maturity, varies significantly – from informal approaches to sophisticated formal frameworks.

Keywords: IT governance, corporate governance, IT governance frameworks, IT governance components, aligning IT with business strategies

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Authors: Muhammad Farooq, Ahtasham Gul

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To meet the desired standard, it is important to monitor and analyze different engineering processes to get desired output. The bivariate distributions got a lot of attention in recent years to describe the randomness of natural as well as artificial mechanisms. In this article, a bivariate model is constructed using two independent models developed by the nesting approach to study the effect of each component on reliability for better understanding. Further, the Bayes analysis of system availability is studied by considering prior parametric variations in the failure time and repair time distributions. Basic statistical characteristics of marginal distribution, like mean median and quantile function, are discussed. We use inverse Gamma prior to study its frequentist properties by conducting Monte Carlo Markov Chain (MCMC) sampling scheme.

Keywords: reliability, system availability Weibull, inverse Lomax, Monte Carlo Markov Chain, Bayesian

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Authors: Yina F. Muñoz, Alexander Paz, Hanns De La Fuente-Mella, Joaquin V. Fariña, Guilherme M. Sales

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The primary approach for estimating bridge deterioration uses Markov-chain models and regression analysis. Traditional Markov models have problems in estimating the required transition probabilities when a small sample size is used. Often, reliable bridge data have not been taken over large periods, thus large data sets may not be available. This study presents an important change to the traditional approach by using the Small Data Method to estimate transition probabilities. The results illustrate that the Small Data Method and traditional approach both provide similar estimates; however, the former method provides results that are more conservative. That is, Small Data Method provided slightly lower than expected bridge condition ratings compared with the traditional approach. Considering that bridges are critical infrastructures, the Small Data Method, which uses more information and provides more conservative estimates, may be more appropriate when the available sample size is small. In addition, regression analysis was used to calculate bridge deterioration. Condition ratings were determined for bridge groups, and the best regression model was selected for each group. The results obtained were very similar to those obtained when using Markov chains; however, it is desirable to use more data for better results.

Keywords: concrete bridges, deterioration, Markov chains, probability matrix

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Authors: Ming-Yue Zhai

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Due to the multipath and pulse noise nature, power line communications(PLC) channel can be modelled as a memory one with the finite states Markov model(FSMC). As the most important parameter modelling a Markov channel,the memory order in an FSMC is not solved in PLC systems yet. In the paper, the mutual information is used as a measure of the dependence between the different symbols, treated as the received SNA or amplitude of the current channel symbol or that of previous symbols. The joint distribution probabilities of the envelopes in PLC systems are computed based on the multi-path channel model, which is commonly used in PLC. we confirm that given the information of the symbol immediately preceding the current one, any other previous symbol is independent of the current one in PLC systems, which means the PLC channels is a Markov chain with the first-order. The field test is also performed to model the received OFDM signals with the help of AR model. The results show that the first-order AR model is enough to model the fading channel in PLC systems, which means the amount of uncertainty remaining in the current symbol should be negligible, given the information corresponding to the immediately preceding one.

Keywords: power line communication, channel model, markovian, information theory, first-order

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Authors: Chiara Mansanta, Daniela Sani

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This paper studies the concept of intrapreneurship discovery for innovation and technology development related to the manufacturing industries set up in the center of Italy, in Marche Region. The study underlined the key drivers of the innovation process and the main factors that influence innovation. Starting from a literature study on open innovation, this paper examines the role of human capital to support company’s development. The empirical part of the study is based on a survey to 151 manufacturing companies that represent the 34% of that universe at the regional level. The survey underlined the main KPI’s that influence companies in their decision processes; then tools for these decision processes are presented.

Keywords: business model, decision making, intrapreneurship discovery, standard methodology

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Authors: Seyedvahid Najafi, Viliam Makis

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In recent years, maintenance optimization has attracted special attention due to the growth of industrial systems complexity. Maintenance costs are high for many systems, and preventive maintenance is effective when it increases operations' reliability and safety at a reduced cost. The novelty of this research is to consider general repair in the modeling of multi-unit series systems and solve the maintenance problem for such systems using the semi-Markov decision process (SMDP) framework. We propose an opportunistic maintenance policy for a series system composed of two main units. Unit 1, which is more expensive than unit 2, is subjected to condition monitoring, and its deterioration is modeled using a gamma process. Unit 1 hazard rate is estimated by the proportional hazards model (PHM), and two hazard rate control limits are considered as the thresholds of maintenance interventions for unit 1. Maintenance is performed on unit 2, considering an age control limit. The objective is to find the optimal control limits and minimize the long-run expected average cost per unit time. The proposed algorithm is applied to a numerical example to compare the effectiveness of the proposed policy (policy Ⅰ) with policy Ⅱ, which is similar to policy Ⅰ, but instead of general repair, replacement is performed. Results show that policy Ⅰ leads to lower average cost compared with policy Ⅱ. 

Keywords: condition-based maintenance, proportional hazards model, semi-Markov decision process, two-unit series systems

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Authors: Maryam Ghoreishi, Christian Larsen

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In this paper, we investigate the effect of stochastic inputs on problem of joint optimal pricing and lot-sizing decisions where the inventory cycle is divided into advance and spot sales periods. During the advance sales period, customer can make reservations while customer with reservations can cancel their order. However, during the spot sales period customers receive the order as soon as the order is placed, but they cannot make any reservation or cancellation during that period. We assume that the inter arrival times during the advance sales and spot sales period are exponentially distributed where the arrival rate is decreasing function of price. Moreover, we assume that the number of cancelled reservations is binomially distributed. In addition, we assume that deterioration process follows an exponential distribution. We investigate two cases. First, we consider two-state case where we find the optimal price during the spot sales period and the optimal price during the advance sales period. Next, we develop a generalized case where we extend two-state case also to allow dynamic prices during the spot sales period. We apply the Markov decision theory in order to find the optimal solutions. In addition, for the generalized case, we apply the policy iteration algorithm in order to find the optimal prices, the optimal lot-size and maximum advance sales amount.

Keywords: inventory control, pricing, Markov decision theory, advance sales system

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Authors: Agoston Restas

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Introduction: In case of managing disasters decision makers can face many times such a special situation where any pre-sign of the drastically change is missing therefore the improvised decision making can be required. The complexity, ambiguity, uncertainty or the volatility of the situation can require many times the improvisation as decision making. It can be taken at any level of the management (strategic, operational and tactical) but at tactical level the main reason of the improvisation is surely time pressure. It is certainly the biggest problem during the management. Methods: The author used different tools and methods to achieve his goals; one of them was the study of the relevant literature, the other one was his own experience as a firefighting manager. Other results come from two surveys that are referred to; one of them was an essay analysis, the second one was a word association test, specially created for the research. Results and discussion: This article proves that, in certain situations, the multi-criteria, evaluating decision-making processes simply cannot be used or only in a limited manner. However, it can be seen that managers, directors or commanders are many times in situations that simply cannot be ignored when making decisions which should be made in a short time. The functional background of decisions made in a short time, their mechanism, which is different from the conventional, was studied lately and this special decision procedure was given the name recognition-primed decision. In the article, author illustrates the limits of the possibilities of analytical decision-making, presents the general operating mechanism of recognition-primed decision-making, elaborates on its special model relevant to managers at tactical level, as well as explore and systemize the factors that facilitate (catalyze) the processes with an example with fire managers.

Keywords: decision making, disaster managers, recognition primed decision, model for making decisions in emergencies

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Authors: Rabi Mouhcine, Amrouch Mustapha, Mahani Zouhir, Mammass Driss

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In this paper, we present a system for offline recognition cursive Arabic handwritten text based on Hidden Markov Models (HMMs). The system is analytical without explicit segmentation used embedded training to perform and enhance the character models. Extraction features preceded by baseline estimation are statistical and geometric to integrate both the peculiarities of the text and the pixel distribution characteristics in the word image. These features are modelled using hidden Markov models and trained by embedded training. The experiments on images of the benchmark IFN/ENIT database show that the proposed system improves recognition.

Keywords: recognition, handwriting, Arabic text, HMMs, embedded training

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Authors: Al Omari Moahmmed Ahmed

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These papers describe the Bayesian Estimator using Markov Chain Monte Carlo and Lindley’s approximation and the maximum likelihood estimation of the Weibull distribution with Type-I censored data. The maximum likelihood method can’t estimate the shape parameter in closed forms, although it can be solved by numerical methods. Moreover, the Bayesian estimates of the parameters, the survival and hazard functions cannot be solved analytically. Hence Markov Chain Monte Carlo method and Lindley’s approximation are used, where the full conditional distribution for the parameters of Weibull distribution are obtained via Gibbs sampling and Metropolis-Hastings algorithm (HM) followed by estimate the survival and hazard functions. The methods are compared to Maximum Likelihood counterparts and the comparisons are made with respect to the Mean Square Error (MSE) and absolute bias to determine the better method in scale and shape parameters, the survival and hazard functions.

Keywords: weibull distribution, bayesian method, markov chain mote carlo, survival and hazard functions

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Authors: Shahram Jamali, Samira Hamed

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One of the open issues in Random Early Detection (RED) algorithm is how to set its parameters to reach high performance for the dynamic conditions of the network. Although original RED uses fixed values for its parameters, this paper follows a model-based approach to upgrade performance of the RED algorithm. It models the routers queue behavior by using the Markov model and uses this model to predict future conditions of the queue. This prediction helps the proposed algorithm to make some tunings over RED's parameters and provide efficiency and better performance. Widespread packet level simulations confirm that the proposed algorithm, called Markov-RED, outperforms RED and FARED in terms of queue stability, bottleneck utilization and dropped packets count.

Keywords: active queue management, RED, Markov model, random early detection algorithm

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Authors: Ramanpreet Kaur, Upasana Sharma

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The purpose of this paper is to address the challenges facing the water supply for the Machine Learning Database (MLDB) system at the piston foundry plant. In the MLDB system, one main unit, i.e., robotic, is connected by two sub-units. The functioning of the system depends on the robotic and water supply. Lack of water supply causes system failure. The system operates at full capacity with the help of two sub-units. If one sub-unit fails, the system runs at a low capacity. Reliability modeling is performed using semi-Markov processes and regenerative point techniques. Several system effects such as mean time to system failure, availability at full capacity, availability at reduced capacity, busy period for repair and expected number of visits have been achieved. Benefits have been analyzed. The graphical study is designed for a specific case using programming in C++ and MS Excel.

Keywords: MLDB system, robotic, semi-Markov process, regenerative point technique

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Authors: Ibrahim Cil, Onur Kurtcu, H. Ibrahim Demir, Furkan Yener, Yusuf. S. Turkan, Muharrem Unver, Ramazan Evren

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Fuzzy AHP (Analytic Hierarchy Process) method is decision-making way at the end of integrating the current AHP method with fuzzy structure. In this study, the processes of production planning, inventory management and purchasing department of a system were analysed and were requested to decide the performance criteria of each area. At this point, the current work processes were analysed by various decision-makers and comparing each criteria by giving points according to 1-9 scale were completed. The criteria were listed in order to their weights by using Fuzzy AHP approach and top three performance criteria of each department were determined. After that, the performance criteria of supply chain consisting of three departments were asked to determine. The processes of each department were compared by decision-makers at the point of building the supply chain performance system and getting the performance criteria. According to the results, the criteria of performance system of supply chain by using Fuzzy AHP were determined for which will be used in the supply chain performance system in the future.

Keywords: AHP, fuzzy, performance evaluation, supply chain

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Authors: Babak Bashari Rad

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A metamorphic computer virus uses different code transformation techniques to mutate its body in duplicated instances. Characteristics and function of new instances are mostly similar to their parents, but they cannot be easily detected by the majority of antivirus in market, as they depend on string signature-based detection techniques. The purpose of this research is to propose a Hidden Markov Model for classification of metamorphic viruses in executable files. In the proposed solution, portable executable files are inspected to extract the instructions opcodes needed for the examination of code. A Hidden Markov Model trained on portable executable files is employed to classify the metamorphic viruses of the same family. The proposed model is able to generate and recognize common statistical features of mutated code. The model has been evaluated by examining the model on a test data set. The performance of the model has been practically tested and evaluated based on False Positive Rate, Detection Rate and Overall Accuracy. The result showed an acceptable performance with high average of 99.7% Detection Rate.

Keywords: malware classification, computer virus classification, metamorphic virus, metamorphic malware, Hidden Markov Model

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Authors: Mladen Djuric, Ivan Janicijevic, Sasa Lazarevic

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One of the organizational issues is how to develop and shape decision making and knowledge management systems which will continually avoid traps of both paralyses by analyses“ and extinction by instinct“, the concepts that are a kind of tolerant limits anti-patterns which define what we can call decision making and knowledge management patterns control zone. This paper discusses potentials for development of a core base for recognizing, capturing, and analyzing anti-patterns in the educational organization, thus creating a space for improving decision making and knowledge management processes in education.

Keywords: anti-patterns, decision making, education, knowledge management

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Authors: Cansu Kandemir, Marco Franchino

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To attain sustainability goals, the manufacturing industries must assess and improve their processes, adopt the latest technologies, and ensure minimal environmental impact. Ongoing debates claim that the definition of sustainability and its assessment is vague. Companies struggle with understanding which processes they should prioritise and necessitate a methodology to aid decision-making. For that reason, our investigation focused on defining a prioritisation guide to help to manufacture engineers identify areas of a facility to prioritise de-carbonisation efforts based on existing sources of data. The authors at the University of Sheffield Advanced Manufacturing Research Centre (AMRC) worked with a range of major businesses, including Food and Drink (Moy Park), Automotive (Nissan), Aerospace and Defence (BAE, Meggitt, Leonardo, and GKN) and Technology (Accenture and Intellium AI). Collected information has been integrated into a prioritisation guide framework that helps process comparison and decision-making. The framework developed in this study aims to ensure that companies have guidance on where to focus their efforts whilst striving to fulfil their environmental and societal obligations.

Keywords: decision making, sustainability, carbon emissions, manufacturing

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Authors: P. C. Tewari, Rajiv Kumar, Dinesh Khanduja

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This paper discusses the performance modeling and availability analysis of Yarn Dyeing System of a Textile Industry. The Textile Industry is a complex and repairable engineering system. Yarn Dyeing System of Textile Industry consists of five subsystems arranged in series configuration. For performance modeling and analysis of availability, a performance evaluating model has been developed with the help of mathematical formulation based on Markov-Birth-Death Process. The differential equations have been developed on the basis of Probabilistic Approach using a Transition Diagram. These equations have further been solved using normalizing condition in order to develop the steady state availability, a performance measure of the system concerned. The system performance has been further analyzed with the help of decision matrices. These matrices provide various availability levels for different combinations of failure and repair rates for various subsystems. The findings of this paper are, therefore, considered to be useful for the analysis of availability and determination of the best possible maintenance strategies which can be implemented in future to enhance the system performance.

Keywords: performance modeling, markov process, steady state availability, availability analysis

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Authors: Smail Tigani, Mohamed Ouzzif

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This work presents a discrete quantitative state prediction algorithm with intelligent behavior making it able to self-improve some performance aspects. The specificity of this algorithm is the capacity of self-rectification of the prediction strategy before the final decision. The auto-rectification mechanism is based on two parallel mathematical models. In one hand, the algorithm predicts the next state based on event transition matrix updated after each observation. In the other hand, the algorithm extracts its residues trend with a linear regression representing historical residues data-points in order to rectify the first decision if needs. For a normal distribution, the interactivity between the two models allows the algorithm to self-optimize its performance and then make better prediction. Designed key performance indicator, computed during a Monte Carlo simulation, shows the advantages of the proposed approach compared with traditional one.

Keywords: discrete state, Markov Chains, linear regression, auto-adaptive systems, decision making, Monte Carlo Simulation

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Authors: Pablo Cardozo Herrera

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In a dynamic market of Information Technology (IT) Service and with high quality demands and high performance requirements in decreasing costs, it is imperative that IT companies invest organizational effort in order to increase the effectiveness of their Information Technology Service Management (ITSM) processes through the improvement of ITSM project management and through solid support to the strategic decision-making process of IT directors. In this article, the author presents an analysis of common issues of IT companies around the world, with strategic needs of information unmet that provoke their ITSM processes and projects management that do not achieve the effectiveness and efficiency expected of their results. In response to the issues raised, the author proposes a framework consisting of an innovative theoretical framework model of ITSM management and a technological solution aligned to the Information Technology Infrastructure Library (ITIL) good practices guidance and ISO/IEC 20000-1 requirements. The article describes a research that proves the proposed framework is able to integrate, manage and coordinate in a holistic way, measurable and auditable, all ITSM processes and projects of IT organization and utilize the effectiveness assessment achieved for their strategic decision-making process increasing the process maturity level and improving the capacity of an efficient management.

Keywords: innovation in IT services, ITSM processes, ITIL and ISO/IEC 20000-1, IT service management, IT service excellence

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Authors: Victoria Goodall, Paul Fatti, Norman Owen-Smith

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Hidden Markov Models have become popular for the analysis of animal tracking data. These models are being used to model the movements of a variety of species in many areas around the world. A common assumption of the model is that the observations need to have regular time steps. In many ecological studies, this will not be the case. The objective of the research is to modify the movement model to allow for irregularly spaced locations and investigate the effect on the inferences which can be made about the latent states. A modification of the likelihood function to allow for these irregular spaced locations is investigated, without using interpolation or averaging the movement rate. The suitability of the modification is investigated using GPS tracking data for lion (Panthera leo) in South Africa, with many observations obtained during the night, and few observations during the day. Many nocturnal predator tracking studies are set up in this way, to obtain many locations at night when the animal is most active and is difficult to observe. Few observations are obtained during the day, when the animal is expected to rest and is potentially easier to observe. Modifying the likelihood function allows the popular Hidden Markov Model framework to be used to model these irregular spaced locations, making use of all the observed data.

Keywords: hidden Markov Models, irregular observations, animal movement modelling, nocturnal predator

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Authors: Qiang Yang, Ping-An Du

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Group decision making with multiple attribute has attracted intensive concern in the decision analysis area. This paper assumes that the contributions of all the decision makers (DMs) are not equal to the decision process based on different knowledge and experience in group setting. The aim of this paper is to develop a novel approach to determine weights of DMs in the group decision making problems. In this paper, the weights of DMs are determined in the group decision environment via angle cosine and projection method. First of all, the average decision of all individual decisions is defined as the ideal decision. After that, we define the weight of each decision maker (DM) by aggregating the angle cosine and projection between individual decision and ideal decision with associated direction indicator μ. By using the weights of DMs, all individual decisions are aggregated into a collective decision. Further, the preference order of alternatives is ranked in accordance with the overall row value of collective decision. Finally, an example in a chemical company is provided to illustrate the developed approach.

Keywords: angel cosine, ideal decision, projection method, weights of decision makers

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Authors: Anas Hourani, Batool Ahmad

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Software applications play an important role inside any institute. They are employed to manage all processes and store entities-related data in the computer. Therefore, choosing the right software product that meets institute requirements is not an easy decision in view of considering multiple criteria, different points of views, and many standards. As a case study, Mutah University, located in Jordan, is in essential need of customized software, and several companies presented their software products which are very similar in quality. In this regard, an analytic hierarchy process (AHP) and a fuzzy analytic hierarchy process (Fuzzy-AHP) models are proposed in this research to identify the most suitable and best-fit software product that meets the institute requirements. The results indicate that both modules are able to help the decision-makers to make a decision, especially in complex decision problems.

Keywords: analytic hierarchy process, decision modeling, fuzzy analytic hierarchy process, software product

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Authors: Surajit Chakrabarty, Piyush Chauhan, Subhasis Panda, Sujoy Bhattacharya

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A large proportion of roads in India are not well maintained as per the laid down public safety guidelines leading to loss of direction control and fatal accidents. We propose a technique to detect speed breakers and potholes using mobile sensor data captured from multiple vehicles and provide a profile of the road. This would, in turn, help in monitoring roads and revolutionize digital maps. Incorporating randomness in the model formulation for detection of speed breakers and potholes is crucial due to substantial heterogeneity observed in data obtained using a mobile application from multiple vehicles driven by different drivers. This is accomplished with Hidden Markov Models, whose hidden state sequence is found for each time step given the observables sequence, and are then fed as input to LSTM network with peephole connections. A precision score of 0.96 and 0.63 is obtained for classifying bumps and potholes, respectively, a significant improvement from the machine learning based models. Further visualization of bumps/potholes is done by converting time series to images using Markov Transition Fields where a significant demarcation among bump/potholes is observed.

Keywords: deep learning, hidden Markov model, pothole, speed breaker

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Authors: Avinash S. Jagtap, Sharad D. Gore, Rajendra G. Gurao

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Decision rules become more and more complex as the number of conditions increase. As a consequence, the complexity of the decision rule also influences the time complexity of computer implementation of such a rule. Consider, for example, a decision that depends on four conditions A, B, C and D. For simplicity, suppose each of these four conditions is binary. Even then the decision rule will consist of 16 lines, where each line will be of the form: If A and B and C and D, then action 1. If A and B and C but not D, then action 2 and so on. While executing this decision rule, each of the four conditions will be checked every time until all the four conditions in a line are satisfied. The minimum number of logical comparisons is 4 whereas the maximum number is 64. This paper proposes to present a complex decision rule in the form of a decision tree. A decision tree divides the cases into branches every time a condition is checked. In the form of a decision tree, every branching eliminates half of the cases that do not satisfy the related conditions. As a result, every branch of the decision tree involves only four logical comparisons and hence is significantly simpler than the corresponding complex decision rule. The conclusion of this paper is that every complex decision rule can be represented as a decision tree and the decision tree is mathematically equivalent but computationally much simpler than the original complex decision rule

Keywords: strategic, tactical, operational, adaptive, innovative

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Authors: Giriraj Achari, Malay Bhattacharyya

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In this paper, the effectiveness of Copula Markov Switching Multifractal (MSM) models at forecasting Value-at-Risk of a two-stock portfolio is studied. The innovations are allowed to be drawn from distributions that can capture skewness and leptokurtosis, which are well documented empirical characteristics observed in financial returns. The candidate distributions considered for this purpose are Johnson-SU, Pearson Type-IV and α-Stable distributions. The two univariate marginal distributions are combined using the Student-t copula. The estimation of all parameters is performed by Maximum Likelihood Estimation. Finally, the models are compared in terms of accurate Value-at-Risk (VaR) forecasts using tests of unconditional coverage and independence. It is found that Copula-MSM-models with leptokurtic innovation distributions perform slightly better than Copula-MSM model with Normal innovations. Copula-MSM models, in general, produce better VaR forecasts as compared to traditional methods like Historical Simulation method, Variance-Covariance approach and Copula-Generalized Autoregressive Conditional Heteroscedasticity (Copula-GARCH) models.

Keywords: Copula, Markov Switching, multifractal, value-at-risk

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