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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.

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Spelling suggestions: "subject:"Keywords: vendor models""

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Newsvendor Models With Monte Carlo Sampling

Ekwegh, Ijeoma W 01 August 2016 (has links)
Newsvendor Models with Monte Carlo Sampling by Ijeoma Winifred Ekwegh The newsvendor model is used in solving inventory problems in which demand is random. In this thesis, we will focus on a method of using Monte Carlo sampling to estimate the order quantity that will either maximizes revenue or minimizes cost given that demand is uncertain. Given data, the Monte Carlo approach will be used in sampling data over scenarios and also estimating the probability density function. A bootstrapping process yields an empirical distribution for the order quantity that will maximize the expected profit. Finally, this method will be used on a newsvendor example to show that it works in maximizing profit.
Keywords: newsvendor models
Monte Carlo sampling
bootstrap resampling.
Applied Mathematics
Applied Statistics
E-Commerce
Fashion Business
Finance and Financial Management
Operations and Supply Chain Management
Other Mathematics
Other Physical Sciences and Mathematics
Probability
Sales and Merchandising
Statistical Methodology
Statistical Models

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