Abstract: This paper studies a two-stage newsvendor problem with two suppliers, where the retailer's loss aversion and probability weighting effects are considered. We solve the model by backward ...

👉 Learn how to find the conditional probability of an event. Probability is the chance of an event occurring or not ...

Objective probability estimates the odds of an event occurring through data analysis. It uses concrete measures instead of guesses to provide a reliable forecast.

👉 Learn how to find the conditional probability of an event. Probability is the chance of an event occurring or not occurring. The probability of an event is given by the number of outcomes divided ...

Abstract: The multidimensional knapsack problem (MKP) is a well-known combinatorial optimization problem with many real-life applications. In this article, a memetic algorithm based on probability ...