Parameters

Table 24.4 shows the parameters that are used in this example.

Table 24.4: Parameters

Parameter Name

Interpretation

num_seats[class]

Number of seats per class per plane

price[period,class,option]

Price level (in £)

prob[scenario]

Probability of demand level scenario per period

demand[period,scenario,class,option]

Demand for period, scenario, and class if price level option is chosen

actual_demand[period,class,option]

Actual demand for period and class if price level option is chosen

expected_demand[period,class,option]

Expected demand for period and class if price level option is chosen

num_periods

Number of periods

num_planes

Number of planes available to be used

plane_cost

Cost to hire each plane (in £)

transfer_fraction_ub

Upper bound on fraction of seats that can be transferred to another category

num_options

Number of price level options

actual_price[period,class]

Actual price level for period and class

actual_sales[period,class]

Actual sales for period and class

actual_revenue[period,class]

Actual revenue for period and class

current_period

Current period for optimization