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has been cited by the following article:
TITLE: A New Proof for the Tight Range of Optimal Order Quantities for the Newsboy Problem with Mean and Standard Deviation
AUTHORS: Jinfeng Yue
KEYWORDS: Newsboy Problem; Distribution-Free Approach; Optimal Decision
JOURNAL NAME: American Journal of Operations Research, Vol.2 No.2, June 20, 2012
ABSTRACT: In the classical Newsboy problem, we provide a new proof for the tight range of optimal order quantities for the newsboy problem when only the mean and standard deviation of demand are available. The new proof is only based on the definition of the optimal solution therefore it is the most straightforward method. It is also shown that the classical Scarf’s rule is the mid-point of the range of optimal order quantities. This provides an additional understanding of Scarf’s order rule as a distribution free decision.