Sales Data and the Estimation of Demand |
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| Authors: | S A Conrad |
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| Institution: | 1.Department of Management Sciences,University of Manchester, Institute of Science and Technology, |
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| Abstract: | The differences between sales and demand are discussed. For the newsboy problem the probability distribution of demand is determined from sales data, under the assumption that customers arrive at random. The optimum stock level is shown, in general, to be different from that in the literature. |
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