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Simple formulas for the expected costs in the newsboy problem: An educational note

✍ Scribed by Hon-Shiang Lau

Publisher: Elsevier Science
Year: 1997
Tongue: English
Weight: 261 KB
Volume: 100
Category: Article
ISSN: 0377-2217
DOI: 10.1016/s0377-2217(96)00117-8

No coin nor oath required. For personal study only.

✦ Synopsis

This educational note presents closed-form (or near closed-form) formulas for computing the expected cost and the optimal expected cost of the newsboy problem. The formulas are sufficiently easy to be used in undergraduate OR and MBA operations-management courses.

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