Questions tagged [chance-constraints]

For questions on constraints over random variables that need to be satisfied with a given probability.

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Chance constrained optimization - interpretation

Suppose that we have a stochastic vector $\psi$ and $S$ realisations of $\psi$ given by $\psi_1,\dots,\psi_S$ with equal probability of occurrence. In addition, we have constraints of the form \begin{...
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Best method to optimise the blending of different types of coal to ensure all quality parameters are met at the lowest possible price?

I am looking to optimise the blending of different types of coal for the coke making process of a steel plant. I want to take into account the statistical variation of each coal’s qualities, so for ...