SIMPLE FORMULAS FOR THE EXPECTED COSTS IN THE NEWSBOY PROBLEM - AN EDUCATIONAL NOTE

Authors
LAU HS
Citation
Hs. Lau, SIMPLE FORMULAS FOR THE EXPECTED COSTS IN THE NEWSBOY PROBLEM - AN EDUCATIONAL NOTE, European journal of operational research, 100(3), 1997, pp. 557-561
Citations number
13
Categorie Soggetti
Management,"Operatione Research & Management Science","Operatione Research & Management Science
Journal title
European journal of operational research → ACNP
ISSN journal
03772217
Volume
100
Issue
3
Year of publication
1997
Pages
557 - 561
Database
ISI
SICI code
0377-2217(1997)100:3<557:SFFTEC>2.0.ZU;2-0
Abstract
This educational note presents closed-form (or near closed-form) formu las for computing the expected cost and the optimal expected cost of t he newsboy problem. The formulas are sufficiently easy to be used in u ndergraduate OR and MBA operations-management courses. (C) 1997 Elsevi er Science B.V.