Abstract
This chapter deals with the different stochastic model which would help us to allocate the budget to a different department as well as schemes. For the allocation of the budget, a mathematical framework is developed using a combination of traditional mathematical model and evolutionary computing based model. A combination of Optimal Computing Budget Allocation (OCBA), Genetic Algorithm (GA) and Equal Allocation (EA) is considered for generating an efficient budgeting model. We have applied soft computing approach to optimize budget allocation in different schemes through which the funds are allocated proficiently.
Keywords: Equal Allocation (EA), Genetic Algorithm (GA), Growth Rate, Optimal Computing Budget Allocation (OCBA).
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