Risk analysis involves the development of the probability distribution for the measure of effectiveness. The risk associated with an investment alternative is generally either given as the possibility of an unfavorable value of the measure of effectiveness or measured by the variance of the measure of effectiveness. In an uncertain economic decision environment, an expert’s knowledge about disc...

In economic order quantity models without backordering, both the stock cost of each unit quantity and the order cost of each cycle are characterized as independent fuzzy variables rather than fuzzy numbers as in previous studies. Based on an expected value criterion or a credibility criterion, a fuzzy expected value model and a fuzzy dependent chance programming (DCP) model are constructed. The...

Stock valuation is very important for fundamental investors to select undervalue stocks to earn excess profit. However, it may be difficult to use stock valuation results because different models generate different estimates on the same stock. This suggests that the value of a stock should be multi-valued rather than single-valued. We therefore develop a multi-valued stock valuation model based...

In this paper, the researchers proposed a new method to rank fuzzy numbers by median value of fuzzy numbers. The median value can be used as a crisp approximation with respect to a fuzzy quantity. Therefore, a method for ordering the fuzzy numbers is defined accordingly. This method can effectively rank various fuzzy numbers, their images and overcome the shortcomings of the previous techniques.

The fuzzy differential and integral equations are important part of the fuzzy analysis theory and they have the important value of theory and application in control theory. Seikkala in [8] has defined the fuzzy derivative which is the generalization of the Hukuhara derivative in [7], the fuzzy integral which is the same as that of Dubois and prade [1], and by means of the extension principle of...

Decision tree induction is one of common approaches for extracting knowledge from a sets of feature-based examples. In real world, many data occurred in a fuzzy and uncertain form. The decision tree must able to deal with such fuzzy data. This paper presents a tree construction procedure to build a fuzzy decision tree from a collection of fuzzy data by integrating fuzzy set theory and entropy. ...

Here we consider approaches to the ranking of fuzzy numbers based upon the idea of associating with a fuzzy number a scalar value, its signal/noise ratios, where the signal and the noise are defined as the middle-point and the spread of each $gamma$-cut of a fuzzy number, respectively. We use the value of a as the weight of the signal/noise ratio of each $gamma$-cut of a fuzzy number to calcula...

An angle trajectory tracking of a 3-DOF (Degree Of Freedom) pneumatic motion platform by the NI Compact RIO control system was investigated. In this study, the positions of moving platform are changed by extension or shortening of the three pneumatic cylinders. The response of pneumatic cylinder is relatively slow for motor actuator and can get a good single-axis trajectory control by tradition...