Examlex
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Newsvendor Model
A mathematical model used to determine optimal inventory levels for products that have uncertain demand and a limited selling period.
Purchase Quantity
The total number of units of a product that a customer buys at one time.
Average Profit
The total profit divided by the number of entities, indicating the average amount of profit per entity.
Spider Chart
A spider chart, also known as a radar chart, is a graphical method of displaying multivariate data in the form of a two-dimensional chart of three or more quantitative variables represented on axes starting from the same point.
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