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Newsvendor model. The newsvendor (or newsboy or single-period[1] or salvageable) model is a mathematical model in operations management and applied economics used to determine optimal inventory levels. It is (typically) characterized by fixed prices and uncertain demand for a perishable product. If the inventory level is , each unit of demand ...
Pareto principle. Statistical principle about ratio of effects to causes. The Pareto principle may apply to fundraising, i.e. 20% of the donors contributing towards 80% of the total. The Pareto principle (also known as the 80/20 rule, the law of the vital few and the principle of factor sparsity[1][2]) states that for many outcomes, roughly 80% ...
Network science. A social network diagram displaying friendship ties among a set of Facebook users. Social network analysis (SNA) is the process of investigating social structures through the use of networks and graph theory. [1] It characterizes networked structures in terms of nodes (individual actors, people, or things within the network ...
Travelling Salesman, by director Timothy Lanzone, is the story of four mathematicians hired by the U.S. government to solve the most elusive problem in computer-science history: P vs. NP. [77] Solutions to the problem are used by mathematician Robert A. Bosch in a subgenre called TSP art.
Definition. The most common problem being solved is the 0-1 knapsack problem, which restricts the number of copies of each kind of item to zero or one. Given a set of items numbered from 1 up to , each with a weight and a value , along with a maximum weight capacity , subject to and . Here represents the number of instances of item to include ...
Sensitivity analysis. Sensitivity analysis is the study of how the uncertainty in the output of a mathematical model or system (numerical or otherwise) can be divided and allocated to different sources of uncertainty in its inputs. [1][2] This involves estimating sensitivity indices that quantify the influence of an input or group of inputs on ...
The seemingly "simple" elementary brain-teaser asks one student "Reasonableness: Marty ate 4/6 of his pizza and Luis ate 5/6 of his pizza. Marty ate more pizza than Luis.
Definition. The value of flow is the amount of flow passing from the source to the sink. Formally for a flow it is given by: Definition. The maximum flow problem is to route as much flow as possible from the source to the sink, in other words find the flow with maximum value.