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  2. Economic order quantity - Wikipedia

    en.wikipedia.org/wiki/Economic_order_quantity

    Economic order quantity. Economic order quantity ( EOQ ), also known as financial purchase quantity or economic buying quantity, [citation needed] is the order quantity that minimizes the total holding costs and ordering costs in inventory management. It is one of the oldest classical production scheduling models.

  3. Economic batch quantity - Wikipedia

    en.wikipedia.org/wiki/Economic_batch_quantity

    Economic batch quantity. In inventory management, Economic Batch Quantity (EBQ), also known as Optimum Batch Quantity (OBQ) is a measure used to determine the quantity of units that can be produced at the minimum average costs in a given batch or product run. EBQ is basically a refinement of the economic order quantity (EOQ) model to take into ...

  4. List of mathematical abbreviations - Wikipedia

    en.wikipedia.org/wiki/List_of_mathematical...

    a.e. – almost everywhere. AFSOC - Assume for the sake of contradiction. Ai – Airy function. AL – Action limit. Alt – alternating group (Alt ( n) is also written as A n.) A.M. – arithmetic mean. AP – arithmetic progression. arccos – inverse cosine function. arccosec – inverse cosecant function.

  5. Mathematical optimization - Wikipedia

    en.wikipedia.org/wiki/Mathematical_optimization

    Mathematical optimization. Graph of a surface given by z = f ( x, y) = − ( x ² + y ²) + 4. The global maximum at ( x, y, z) = (0, 0, 4) is indicated by a blue dot. Nelder-Mead minimum search of Simionescu's function. Simplex vertices are ordered by their values, with 1 having the lowest ( best) value. Mathematical optimization ...

  6. Baumol–Tobin model - Wikipedia

    en.wikipedia.org/wiki/Baumol–Tobin_model

    The Baumol–Tobin model is an economic model of the transactions demand for money as developed independently by William Baumol (1952) and James Tobin (1956). The theory relies on the tradeoff between the liquidity provided by holding money (the ability to carry out transactions) and the interest forgone by holding one’s assets in the form of ...

  7. Inverse demand function - Wikipedia

    en.wikipedia.org/wiki/Inverse_demand_function

    The inverse demand function can be used to derive the total and marginal revenue functions. Total revenue equals price, P, times quantity, Q, or TR = P×Q. Multiply the inverse demand function by Q to derive the total revenue function: TR = (120 - .5Q) × Q = 120Q - 0.5Q². The marginal revenue function is the first derivative of the total ...

  8. Sample maximum and minimum - Wikipedia

    en.wikipedia.org/wiki/Sample_maximum_and_minimum

    The sample maximum and minimum provide a non-parametric prediction interval : in a sample from a population, or more generally an exchangeable sequence of random variables, each observation is equally likely to be the maximum or minimum. Thus if one has a sample and one picks another observation then this has probability of being the largest ...

  9. Reorder point - Wikipedia

    en.wikipedia.org/wiki/Reorder_point

    Reorder point. The reorder point ( ROP ), also reorder level (ROL) or "optimal re-order level", [ 1] is the level of inventory which triggers an action to replenish that particular inventory. It is a minimum amount of an item which a firm holds in stock, such that, when stock falls to this amount, the item must be reordered.