Minimum Expected Cost Optimization

Abstract

A probabilistic optimum design approach is presented with minimum expected cost as the design objective. Statically determinate trusses are used to demonstrate the approach. The minimization of expected cost is shown to be equivalent to minimum weight with a probability of failure constraint. Sensitivity studies of safety index, cost of failure, and material and load parameters are presented. A simple design aid is included for the expected cost optimization of statically determinate trusses with random strength and deterministic load.

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