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Newsvendor Problem- Normal Distribution Demo

Newsvendor Problem- Normal Distribution Demo
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2019-02-20 12:14
CalculusProbability & StatisticsOptimizationGraphing
This example demonstrates the Newsvendor Problem with demand following a normal distribution, focusing on optimal order quantity calculation. Key math concepts include normal distribution, integration, expected value, and optimization. Constructed using GeoGebra commands like Textfield, Point, Normal, Integral, Max. Suitable for high school students and learners needing to understand probability & statistics and optimization methods.

GeoGebra Commands & Parameters

  1. Textfield(Price) → PriceNBox
  2. Textfield(UnitCost) → UnitCostBox
  3. Textfield(OrderQuantity) → OrderQBox
  4. Point(Profit) → Q
  5. Normal(DemandMean, DemandDeviation, x, false) → Prob
  6. Integral(ProfitExpectation) → ExpectProfit
  7. Integral(ProfitExpectation, 0, xMax) → ProfitExpectAtOrederQuanity
  8. Textfield(DemandMean) → DemandMeanBox
  9. Textfield(DemandDeviation) → DemandDeviationBox
  10. Textfield(yMax) → yMaxBox
  11. Textfield(yMin) → yMinBox
  12. Textfield(xMax) → xMaxBox
  13. Max(Sequence[ProfitExpectation((t * xMax / 15)), t, 0, 15]) → MaxProfitExpectation