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Single-Period Stochastic Inventory Problems with Quadratic Costs.
NAVAL POSTGRADUATE SCHOOL MONTEREY CALIF
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Single-period inventory problems such as the newspaper boy problem having quadratic cost functions for either or both shortages and overages are examined to determine the optimal order level under various principles of choice such as minimum expected cost, aspiration level, and minimax regret. Procedures for finding the optimum order levels are developed for both continuous and discrete demand patterns. Author
APPROVED FOR PUBLIC RELEASE