The pdf of the demand per period in an infinite-horizon inventory model is given as f(D) =
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The pdf of the demand per period in an infinite-horizon inventory model is given as f(D) = .08D,0 ≤ D ≤ 5
The unit cost parameters are
Unit selling price = $10
Unit purchase price = $8
Unit holding cost per month = $1
Unit penalty cost per month= $10
Discount factor = .9
Determine the optimal inventory policy assuming zero delivery lag and that the unfilled demand is backlogged.
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