Objective function Sample Clauses

Objective function. The optimization algorithm determines the optimal dispatch of the virtual storage that maximizes the revenue of the buyer, J, over the considered time horizon, T, while fulfilling the storage constraints. The revenues stem from day-ahead arbitrage, i.e. the possibility of buying and selling elec- tricity when it is most convenient: X T J = t = 1 pt(Vt — Ut)Dt (Equation 1) where Ut is the power used to charge the storage and Vt is the power discharged from the storage during the time step t, of duration Dt. The energy for charging and discharging the virtual storage is bought and sold, respectively, at the known day-ahead market price pt. Ut and Vt are decision variables of the optimi- zation problem for all time steps t ˛ {1;.; T }.
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Objective function. (1) The variable is a binary variable that indicates if a vessel travels from node to customer carrying order in time t. The parameter is the cost pr tons dead weight carried from site to customer , multiplied with the parameter which is the order size of order product . The parameter is a distance matrix from node . The objective of (1) is to minimize the total shipment cost of transport of aggregates to the customers. In addition the objective function minimizes deadheading on the way to the next production site .
Objective function. The objective is maximizing the profit of the whole cluster with respect to all operations and investments in all plants. In other words, plants are interconnected and there is only one unified objective for all plants in the cluster. Objective function = Revenue from output – cost of input – investment cost- operation cost Maximize ∑∑∑(sp)ct Xi,'Market 'c,t - ∑∑∑( pp)ct X ' Market ',i,c,t c∈C t∈T i∈P - ( ∑(if )iYi + ∑(ic)i Li c∈C t∈T i∈P + ∑∑∑(icl)ijc Zijc ) i∈P i∈P i∈P j∈P c∈C - ( ∑∑(Yi + (ofc)i ) + ∑∑∑ ∑ i∈P t∈T i∈P j∈P t∈T c∈C (c=(co)i ) (oc)i ( Xijct +X jict ) )
Objective function. The objective function minimizes the total cost of production, transportation and holding cost at the customers and at the plant.
Objective function. In this model the goal is here to minimize the total number of workers used both from NOV and external contractors. To maximize each worker‟s utilization more jobs will be allocated to fewer people. min Zw is for minimizing the number of workers which NOV already is employing. By w W adding a penalty option for external contractors we minimize these by setting min as a parameter. This results in the following: Zw P w W
Objective function. The abrupt change at k = 2, is highly suggestive of two clusters in the data. This technique for determining the number of clusters is known as “knee finding” or “elbow finding”.

Related to Objective function

  • Program Objective The objectives of the Department’s grants are to:

  • Service Objectives D4.1 The Services will:

  • Program Objectives In performing its responsibilities with respect to the management and administration of the Program, each party shall be guided by the following Program objectives:

  • Additional RO Review Criteria (1) In addition to the requirements in Subparagraph 34A, the RO must:

  • Project Objective The Parties will jointly develop the Project Objective based upon the Owner’s requirements, goals, and constraints. The Project Objective is comprised of the Base Program, Target Cost, Added Value Incentive Items, Implementation Documents, and Contract Time, and any other objectives agreed by the Parties. The Project Objective establishes the Project requirements and standards for measuring the Project’s success. The various components of the Project Objective may be incorporated into the Agreement through Amendment upon recommendation of the Project Management Team and approval of the Senior Management Team.

  • Objective The objective of this Agreement is to create a free and open investment regime in ASEAN in order to achieve the end goal of economic integration under the AEC in accordance with the AEC Blueprint, through the following:

  • Project Objectives The Program consists of the projects described in Annex I (each a “Project” and collectively, the “Projects”). The objective of each of the Projects (each a “Project Objective” and collectively, the “Project Objectives”) is to:

  • Training Objectives It is important that the objectives for the employee(s) enrolling in this course or program is related to the strategic objectives of the organization for which the employee works. Provide text to explain how the training event meets agency objective(s) and purpose type.

  • Acceptance Criteria 6.7.2.1. During the test there shall be no evidence of:

  • Objectives The objectives of this Agreement are to:

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