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choosing a quantity to meet a single period of uncertain demand, after which any unused amount...

choosing a quantity to meet a single period of uncertain demand, after which any unused amount will be less valuable, is referred to as___? A the newsvendor problem B redundancy C ield management D overbooking

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Answer #1

The correct answer is option A.

The newsvendor model also called single-period model is nothing but the mathematical model which is used to determine the optimal quantity of perishable product that needs to maintained which is calculated based on fixed price and uncertain demand. Since the product is perishable and demand is uncertain the unsold items are worthless at the end of the day so newsvendor problem is solved to identify the optimal inventory level.

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