We consider the indifference-zone (IZ) formulation of the ranking and selection problem with independent normal samples and known sampling variance. In this problem, we must use stochastic simulation to select the best among several noisy simulated systems, with a statistical guarantee on solution quality. Existing IZ procedures sample excessively in problems with many alternatives, in part bec...

Selection of a project among a set of possible alternatives is a difficult task that the decision maker (DM) has to face. In this paper, by using a fuzzy TOPSIS technique we propose a new method for a project selection problem. After reviewing four common methods of comparing investment alternatives (net present value, rate of return, benefit cost analysis and payback period) we use them as cri...

In this study an academician selection system has been developed for universities using fuzzy weighting and fuzzy ranking. In the system, effects of many criteria and views of many experts are evaluated for selection. Number of criteria, number of linguistic variables of criteria, names of linguistic variables, membership functions of linguistic variables, number of experts and alternatives can...

The accurate selection of a processing plant site can result in decreasing total mining cost. This problem can be solved by multi-criteria decision-making (MCDM) methods. This research introduces a new approach by integrating fuzzy AHP and gray MCDM methods to solve all decision-making problems. The approach is applied in the case of a copper mine area. The critical criteria are considered adja...

One crucial decision firms or government agencies must make is the selection of the alternatives, e.g., the characteristics and/or the number of products, to offer to consumers or citizens. The selection of the set of alternatives to offer should not only take into account the potential preferences of the consumers and firms, but also the evaluation costs of the economic agents. This may lead t...

energy is a critical factor to obtain a sustainable development for countries and governments. selection of the most appropriate energy alternative is a completely critical and a complex decision making problem. in this paper, an integrated multi-criteria decision-making (mcdm) methodology based on type-2 fuzzy sets is proposed for selection among energy alternatives. then a roadmap has been cr...

The development of an application based on a set of best software engineering practices involves first their selection. This process may become complex due to the variables involved. This paper presents an Operations Research approach for the selection of best software engineering practices for the development of applications or computational systems considering a series of alternatives and sel...

The dissertation presents Hybrid Intelligent Decision Support Systems (DSS) for the selection of alternatives (companies, stocks, and company groups) in stock trading under uncertainty. This study proposes a framework including three models using Hybrid Intelligent DSS. The framework aims to optimize trading decisions in the selection of appropriate alternatives and reduce risky decisions. This...