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Articles 1 - 30 of 168
Full-Text Articles in Hospitality Administration and Management
A Mechanistic Model Of The Wash Shuffle And Monte Carlo Exploration Of Its Impact On Card Shuffling In Texas Hold’Em, Michael A. Alexeev, Peter B. Chi
A Mechanistic Model Of The Wash Shuffle And Monte Carlo Exploration Of Its Impact On Card Shuffling In Texas Hold’Em, Michael A. Alexeev, Peter B. Chi
UNLV Gaming Research & Review Journal
In casino games using a standard deck of cards, a wash shuffle is sometimes performed prior to the rest of the card shuffling procedure. Unlike other methods of shuffling, the wash shuffle has not yet been well studied. To this end, we first develop a mechanistic model of the wash shuffle based on our observation of how cards tend to move when a wash shuffle is being performed. Then, we use this model to simulate the card shuffling procedure used in casino poker rooms, and explore the resulting impact on where the cards are dealt in the context of Texas …
Sustainability In The Cruising Industry: Innovations In Air Quality, Energy Efficiency, And Waste Management, Fikret Durmus, Mi Ran Kim
Sustainability In The Cruising Industry: Innovations In Air Quality, Energy Efficiency, And Waste Management, Fikret Durmus, Mi Ran Kim
ICHRIE Research Reports
The cruise industry, a cornerstone of the global hospitality and tourism sector, faces increasing scrutiny over its environmental impact. As passenger numbers grow, so does the industry's responsibility to adopt sustainable practices. This report examines key innovations in air quality management, energy efficiency, and waste management, highlighting the industry's transition from historically high emissions and waste production to advanced sustainability initiatives. Key focus areas include evolving maritime regulations, adopting cleaner propulsion technologies, integrating energy-efficient solutions, and improving waste treatment practices. Findings indicate that industry leaders are investing in liquefied natural gas engines, exhaust gas cleaning systems, and onshore power supply …
How Can The Adoption Of Biodegradable Packaging In The Beverage Industry Specifically Contribute To Reducing Single-Use Plastic Waste, And What Regulatory Or Cost-Related Challenges Hinder Its Widespread Implementation In Developing Countries?, Rebecca Aba Gaisie
2025 Awards for Excellence in Student Research and Creative Activity - Documents
This research investigates the potential of biodegradable packaging to reduce single-use plastic waste in the beverage industry and explores the regulatory and cost-related barriers to its adoption in developing countries. The beverage sector is a major contributor to global plastic pollution, and biodegradable alternatives offer a promising path toward sustainability. Using a mixed-methods approach, this study combines qualitative interviews with industry experts and case studies of businesses implementing biodegradable solutions, alongside quantitative survey data from 100 manufacturers and 200 consumers across Africa, Asia, and Latin America. Findings reveal that while biodegradable packaging significantly reduces plastic waste and appeals to environmentally …
Identifying Intangible And Biocultural Heritage Elements Toward Environmental Understanding: Engaging Stakeholders Through Art, Martha B. Lerski
Identifying Intangible And Biocultural Heritage Elements Toward Environmental Understanding: Engaging Stakeholders Through Art, Martha B. Lerski
Publications and Research
Grounded in a case study in Barbuda in the Caribbean, this research examines sustainability from the perspective of what arts and heritage can contribute to community engagement and local and broader understandings about the environment. This article documents a growing body of literature recognizing the role of arts and culture, including local knowledge and traditional ecological knowledge (TEK), in climate change endeavors. Art and TEK present expansive world views. Contextual information situates research done on the island of Barbuda pre- and post-Hurricane Irma. Visual arts workshops engaged community members in mixed methods research. Results documented cultural elements, particularly intangible and …
Quickque: Enabling Quick Access To Information In User Reviews For Screen Reader Users, Mohan Sunkara, Akshay Kolgar Nayak, Sandeep Kalari, Yash Prakash, Sampath Jayarathna, Hae-Na Lee, Vikas Ashok
Quickque: Enabling Quick Access To Information In User Reviews For Screen Reader Users, Mohan Sunkara, Akshay Kolgar Nayak, Sandeep Kalari, Yash Prakash, Sampath Jayarathna, Hae-Na Lee, Vikas Ashok
Computer Science Faculty Publications
Efficiently perusing online customer reviews is presently challenging for blind users, who rely on a screen reader that supports predominantly one-dimensional narration of content via keyboard shortcuts. To address this, with restaurant reviews as seminal case study, we developed QuickCue, a browser extension prototype that enables screen reader users to quickly obtain the positives and negatives regarding different aspects of a restaurant (e.g., food quality, hygiene, ambiance), without having to sift through numerous reviews containing redundant information. At its core, QuickCue utilizes a large language model to perform aspect and sentiment-based joint classification of reviews to group them based on …
Adapting Online Customer Reviews For Blind Users: A Case Study Of Restaurant Reviews, Mohan Sunkara, Akshay Kolgar Nayak, Sandeep Kalari, Yash Prakash, Sampath Jayarathna, Hae-Na Lee, Vikas Ashok
Adapting Online Customer Reviews For Blind Users: A Case Study Of Restaurant Reviews, Mohan Sunkara, Akshay Kolgar Nayak, Sandeep Kalari, Yash Prakash, Sampath Jayarathna, Hae-Na Lee, Vikas Ashok
Computer Science Faculty Publications
Online reviews have become an integral aspect of consumer decision-making on e-commerce websites, especially in the restaurant industry. Unlike sighted users who can visually skim through the reviews, perusing reviews remains challenging for blind users, who rely on screen reader assistive technology that supports predominantly one-dimensional narration of content via keyboard shortcuts. In an interview study, we uncovered numerous pain points of blind screen reader users with online restaurant reviews, notably, the listening fatigue and frustration after going through only the first few reviews. To address these issues, we developed QuickCue assistive tool that performs aspect-focused sentiment-driven summarization to reorganize …
Mathematics In Amusement Parks, Kacey Laumann
Mathematics In Amusement Parks, Kacey Laumann
Honors Projects
This project focuses specifically on the Walt Disney World Park, Magic Kingdom. I started by collecting data through the MyDisneyExperience app. By recording the data, I was then able to create polynomial functions to the fifth the degree. Each attraction received a function which allowed me to predict the wait times for that attraction. Then, by graphing the functions and analyzing the graph using calculus the “best time” and “worst time” to go to the attraction were found. After the analysis the information is used to build a unique schedule for a guest. Then the guest receives this schedule after …
Coffee In Brasil: Sustainability And The Role Of Intermediaries, Livia Petzinger
Coffee In Brasil: Sustainability And The Role Of Intermediaries, Livia Petzinger
Capstone Collection
ABSTRACT
Coffee is traded in a highly complex global value chain where countless sustainability initiatives have emerged to address social, economic, and environmental issues, challenges which persist due to dominance of the market structure by largescale traders and roasters. Specialty coffee and direct trade have emerged as alternative trade arrangements that promote high-quality coffee through the use of sustainable practices, transparency, and a shortened supply chain. This research analyzes the role that intermediaries in the Brazilian specialty coffee supply chain play in the implementation of sustainability initiatives asking what kinds of sustainability practices they implement and why, and how this …
Sustainable Service Trends In Restaurants, Suruchi Bhatt
Sustainable Service Trends In Restaurants, Suruchi Bhatt
School of Business
Being Sustainable is an essential milestone in the food industry. Companies form and fall because of consumers' reactions to the industry. The food industry and restaurants account for some of the highest Food Waste and Pollution, approximately 34% of the Global anthropogenic greenhouse gas emissions, including food production, processing, distribution, and consumption. (Crippa et al., 2021) In a sector like this, ensuring a complete understanding of sustainability in the industry is of utmost importance. However, the sheer relationship between the sustainable image, the prospect of sustainability, and the reality of implementing it may be far from reality. (Yuying-Huang, 2022)
Tea Shop Manager, Ruben Becerril
Tea Shop Manager, Ruben Becerril
Posters - 2024
Tea Shop Manager is meant to be a business simulator game. Business is a subject that is difficult to learn especially as a child who may not understand how the world works yet. Business is all about its application to the real world, as a result the game will:
• Bring aspects of business, simplify it, and then apply it to a semi-realistic setting such as managing a shop.
• Concepts and skills will be taught through the user’s interaction with the game.
• Show statistics based on management performance.
Management Of Operations In Projects Including Planning, Organization And Control From The Beginning To The End Of Implementation, Burim Isa Berisha Dr.Sc
Management Of Operations In Projects Including Planning, Organization And Control From The Beginning To The End Of Implementation, Burim Isa Berisha Dr.Sc
International Journal of Business and Technology
The project usually arises as soon as the client’s need is identified, and goes through all the extensive phases and sub-phases to take its true form and put into operation. The project is divided into two main parts that include Planning and Implementation that are separate in these stages: definition, planning, organization, control, completion. Planning involves a detailed calculation of the project. This includes known facts, admissible facts and risk calculation. Activity model used by IKOMs Planning as a process involves the cost that accompanies it. The manager must strike the balance between cost and benefit. Project control uses data …
Agency Theory And Audit Quality, Burim Isa Berisha Bb
Agency Theory And Audit Quality, Burim Isa Berisha Bb
International Journal of Business and Technology
Auditing plays a vital role in reducing both: information asymmetry by empirically confi rming the validity of fi nancial statements and agency problems. The principal- agent confl ict illustrated in agency theory, where principal (owner) lack reasons to believe their agents (managers) because of information asymmetries and contradictory motives. Information asymmetry deals with the study of decisions in transactions where one party has more or superior information than other. Agents (either directors or auditors) may be trustworthy without further incentives to align interest or monitoring strategies such as audit or increased regulation. However, the simple agency model would recommend that …
The Process Of Adapting Innovations In Banking Services By Businesses In Kosovo, Burim Isa Berisha Dr.Sc, Burim Berisha B.B
The Process Of Adapting Innovations In Banking Services By Businesses In Kosovo, Burim Isa Berisha Dr.Sc, Burim Berisha B.B
International Journal of Business and Technology
This dissertation addresses the importance of a business model from businesses in Kosovo, which is able to adapt innovations from the banking sector such as digital services, and through which become part of a global market where such developments occur step by step. very fast At the beginning of this paper will be given definitions related to the main concepts that are addressed such as business model, innovations in banking services - digitalization of services and the role and importance of linking a business model with banking services of the time. After the theoretical part, from which the main concepts …
Theme Park Visitors Prefer Human-Like Robots In Customer Service Interactions, Ady Milman, Asli D.A. Tasci
Theme Park Visitors Prefer Human-Like Robots In Customer Service Interactions, Ady Milman, Asli D.A. Tasci
Rosen Research Review
Service robots are becoming increasingly popular in many industries and social settings, including education, childcare, elderly therapy centers, and even theme parks. Tourism and hospitality industries are adopting robots enthusiastically and are being closely studied to observe guest engagement and reaction to robotic services. Service robots are becoming increasingly popular in many industries and social settings, including education, childcare, elderly therapy centers, and even theme parks. Tourism and hospitality industries are adopting robots enthusiastically and are being closely studied to observe guest engagement and reaction to robotic services. UCF Rosen College of Hospitality Management researchers, Dr. Ady Milman and Dr. …
Covid-19 In Casinos: Analysis Of Covid-19 Contamination And Spread With Economic Impact Assessment, Anastasia (Stasi) D. Baran, Jason D. Fiege
Covid-19 In Casinos: Analysis Of Covid-19 Contamination And Spread With Economic Impact Assessment, Anastasia (Stasi) D. Baran, Jason D. Fiege
International Conference on Gambling & Risk Taking
Abstract:
The COVID-19 pandemic caused tremendous disruption for casinos, with the virus causing various lengths of shutdowns, capacity restrictions, and social distancing strategies such as machine removals or section closures. Although most of the world has now eased off these measures, it is important to review lessons learned to understand, and better prepare for similar circumstances in the future. We present Monte Carlo slot floor simulation software customized to simulate players spreading COVID-19 on the slot floor. We simulate the amount of touch surface contamination; the number of potential surface contact exposure events per day, and a proximity exposures statistic …
Payments Data In Gambling Research, Kasra Ghaharian, Mana Azizsoltani
Payments Data In Gambling Research, Kasra Ghaharian, Mana Azizsoltani
International Conference on Gambling & Risk Taking
A considerable body of gambling-related research has leveraged gamblers' behavioral tracking data to address a broad set of research questions. These data have typically comprised of gamblers' betting-related behaviors including, for example, the frequency and volume of betting. The analysis of gamblers' payment-related behavioral data is far less common, but provides a fruitful avenue gambling-related research.
In this presentation we discuss a selection of potential research opportunities that payments transaction data presents. We supplement this discussion with specific analyses that have been performed by our research group. We also discuss knowledge gaps and areas for future research.
The Locals Casino As A Social Network – Can An Interconnected Community Of Players Detect Differences In Hold?, Jason D. Fiege, Anastasia (Stasi) D. Baran
The Locals Casino As A Social Network – Can An Interconnected Community Of Players Detect Differences In Hold?, Jason D. Fiege, Anastasia (Stasi) D. Baran
International Conference on Gambling & Risk Taking
Abstract
It is difficult for individual players to detect differences in theoretical hold between slot machines without playing an unrealistically large number of games. This difficulty occurs because the fractional loss incurred by a player converges only slowly to the theoretical hold in the presence of volatility designed into slot pay tables. Nevertheless, many operators believe that players can detect changes in hold or differences compared to competition, especially in a locals casino market, and therefore resist increasing holds. Instead of investigating whether individual players can detect differences in hold, we ask whether a population of casino regulars who share …
Bibliometric Profile Of Studies In The International Literature On Sustainability Aviation, Nil Konyalilar
Bibliometric Profile Of Studies In The International Literature On Sustainability Aviation, Nil Konyalilar
University of South Florida (USF) M3 Publishing
In the research, bibliometric profiles of publications in which the concepts of sustainability and aviation are used together were revealed. As a publication, the studies reached by scanning the words sustainability and airline/airway/aviation in the Scopus database were considered. A total of 80 studies published between 1984-2022 were the subject of the research. The data obtained within the scope of the research were reached on January 10, 2022. Examined publications; publication year, authors, field, institution of publication, country of publication, type of publication, cited journals and keywords used in the research. Research data were also analyzed in the VOSviewer bibliographic …
Du Undergraduate Showcase: Research, Scholarship, And Creative Works: Abstracts, Emma Aggeler, Elena Arroway, Daisy T. Booker, Justin Bravo, Kyle Bucholtz, Megan Burnham, Nicole Choi, Spencer Cockerell, Rosie Contino, Jackson Garske, Kaitlyn Glover, Caroline Hamilton, Haley Hartmann, Madalyne Heiken, Colin Holter, Leah Huzjak, Alyssa Jeng, Cole Jernigan, Chad Kashiwa, Adelaide Kerenick, Emily King, Abigail Langeberg, Maddie Leake, Meredith Lemons, Alec Mackay, Greer Mckinley, Ori Miller, Guy Milliman, Katherine Miromonti, Audrey Mitchell, Lauren Moak, Megan Morrell, Gelella Nebiyu, Zdenek Otruba, Toni V. Panzera, Kassidy Patarino, Sneha Patil, Alexandra Penney, Kevin Persky, Caitlin Pham, Gabriela Recinos, Mary Ringgenberg, Chase Routt, Olivia Schneider, Roman Shrestha, Arlo Simmerman, Alec Smith, Tessa Smith, Nhi-Lac Thai, Kyle Thurmann, Casey Tindall, Amelia Trembath, Maria Trubetskaya, Zachary Vangelisti, Peter Vo, Abby Walker, David Winter, Grayden Wolfe, Leah York
Du Undergraduate Showcase: Research, Scholarship, And Creative Works: Abstracts, Emma Aggeler, Elena Arroway, Daisy T. Booker, Justin Bravo, Kyle Bucholtz, Megan Burnham, Nicole Choi, Spencer Cockerell, Rosie Contino, Jackson Garske, Kaitlyn Glover, Caroline Hamilton, Haley Hartmann, Madalyne Heiken, Colin Holter, Leah Huzjak, Alyssa Jeng, Cole Jernigan, Chad Kashiwa, Adelaide Kerenick, Emily King, Abigail Langeberg, Maddie Leake, Meredith Lemons, Alec Mackay, Greer Mckinley, Ori Miller, Guy Milliman, Katherine Miromonti, Audrey Mitchell, Lauren Moak, Megan Morrell, Gelella Nebiyu, Zdenek Otruba, Toni V. Panzera, Kassidy Patarino, Sneha Patil, Alexandra Penney, Kevin Persky, Caitlin Pham, Gabriela Recinos, Mary Ringgenberg, Chase Routt, Olivia Schneider, Roman Shrestha, Arlo Simmerman, Alec Smith, Tessa Smith, Nhi-Lac Thai, Kyle Thurmann, Casey Tindall, Amelia Trembath, Maria Trubetskaya, Zachary Vangelisti, Peter Vo, Abby Walker, David Winter, Grayden Wolfe, Leah York
DU Undergraduate Research Journal Archive
Abstracts from the DU Undergraduate Showcase.
Comparison Of The Mental Burden On Nursing Care Providers With And Without Mat-Type Sleep State Sensors At A Nursing Home In Tokyo, Japan: Quasi-Experimental Study, Sakiko Itoh, Hwee-Pink Tan, Kenichi Kudo, Yasuko Ogata
Comparison Of The Mental Burden On Nursing Care Providers With And Without Mat-Type Sleep State Sensors At A Nursing Home In Tokyo, Japan: Quasi-Experimental Study, Sakiko Itoh, Hwee-Pink Tan, Kenichi Kudo, Yasuko Ogata
Research Collection School Of Computing and Information Systems
Background: Increasing need for nursing care has led to the increased burden on formal caregivers, with those in nursing homes having to deal with exhausting labor. Although research activities on the use of internet of things devices to support nursing care for older adults exist, there is limited evidence on the effectiveness of these interventions among formal caregivers in nursing homes. Objective: This study aims to investigate whether mat-type sleep state sensors for supporting nursing care can reduce the mental burden of formal caregivers in a nursing home. Methods: This was a quasi-experimental study at a nursing home in Tokyo, …
Data Analytics In Hotel And Integrated Resort Brands: An Evaluation Of Past Literature And Proposed Research For The Future, Luke Andrew Walocko
Data Analytics In Hotel And Integrated Resort Brands: An Evaluation Of Past Literature And Proposed Research For The Future, Luke Andrew Walocko
UNLV Theses, Dissertations, Professional Papers, and Capstones
Data analytics in hotel and integrated resort brands is a growing strategy implemented to support business decisions designed to generate revenue or save costs. This study utilizes a literature review of data analytics related publications to provide recommendations on future research topics to improve the quality of literature related to data analytics in hotel and integrated resort brands. The study is not limited to hospitality specific research and uses research from all industries to identify gaps in publications for hospitality scholars to explore. Three proposed research questions for future exploration were composed based on the comparison of literature written for …
Sustainability And Hospitality: People, Planet And Prosperity, Alan Fyall
Sustainability And Hospitality: People, Planet And Prosperity, Alan Fyall
Rosen Research Review
An interview with Jared Meyers, Chairman, Legacy Vacation Resorts, a Certified B Corporation, by Alan Fyall
An Exploratory Assessment Of Callings: The Importance Of Specialization, Christopher Paul Cain, Lisa Nicole Cain, James A. Busser, Hee Jung Kang
An Exploratory Assessment Of Callings: The Importance Of Specialization, Christopher Paul Cain, Lisa Nicole Cain, James A. Busser, Hee Jung Kang
Hospitality Faculty Research
Purpose This study sought to understand how having a calling influenced engagement, work–life balance and career satisfaction for Professional Golfers Association of America (PGA) and Golf Course Superintendent of America (GCSA) professionals. Design/methodology/approach A conceptual model was used to examine callings among golf course supervisors and its impact on their engagement, work–life balance and career satisfaction. This study also explored the moderation effect of employees’ generalized or specialized role on the calling–engagement relationship. Surveys were collected from a single golf management company and partial least squares structural equation modeling (PLS-SEM) was used for data analysis. Findings The results revealed significant …
Chefs' Perceptions Of Zero Waste Cooking In Restaurants, Josephine Reardon
Chefs' Perceptions Of Zero Waste Cooking In Restaurants, Josephine Reardon
Graduate Theses and Dissertations
The purpose of this study is to examine chefs’ perceptions and practices relative to current and potentially future efforts to decrease food waste. Through qualitative inquiry, this research aims to identify food waste reduction practices in Northwest Arkansas restaurants; chef’s perceptions of these practices and zero waste cooking; the impact these practices have on successfully implementing sustainability; and the biggest challenges in reducing food waste in restaurants. The results of this study will assist chefs and restaurant owners by providing guidance on practices easily utilized in restaurants currently.
An interview protocol, with five sections, was conducted with ten chefs at …
Black Swamp Pub And Bistro Analysis, Sara Aniol
Black Swamp Pub And Bistro Analysis, Sara Aniol
Honors Projects
The Black Swamp Pub and Bistro is a full-service restaurant located in the Union on the Bowling Green State University Campus. We mainly do sit-down service, but we also do take-out orders and have a full bar with draft beers as well as mixed drinks. Our menu tends to change a lot, with new additions as well as some of the items being deleted. My goal of this project is to try to give some insight on the patterns that are too big to see with day-to-day operations as well as give some recommendations for the future that is backed …
An Approach To Determining Customer Satisfaction In Traditional Serbian Restaurants, Florentin Smarandache, Dragisa Stanujkic, Darjan Karabasevic, Edmundas Kazimieras Zavadskas, Fausto Cavallaro
An Approach To Determining Customer Satisfaction In Traditional Serbian Restaurants, Florentin Smarandache, Dragisa Stanujkic, Darjan Karabasevic, Edmundas Kazimieras Zavadskas, Fausto Cavallaro
Branch Mathematics and Statistics Faculty and Staff Publications
The aim of this paper is to make a proposal for an easy–to–use approach to the evaluation of customer satisfaction in restaurants. In order to provide a reliable way to collect respondents’ real attitudes, an approach based on the use of smaller number of evaluation criteria and interactive questionnaire created in a spreadsheet file is proposed in this paper, whereby an easy-to-understand and simple-touse procedure is proposed for determining weights of criteria. In addition to the said, the proposed approach applies the simplified SERVQUAL-based approach, for which reason a simplified version of the Weighted Sum Method based on the decision …
Ua12/2/2 Talisman: Movement, Wku Student Affairs
Ua12/2/2 Talisman: Movement, Wku Student Affairs
WKU Administration Documents
2018 Talisman yearbook.
- Good, Hannah. Movement
- Kinser, Nicholas. Tunnel Trap
- Cozer, Claire. A Day in the Life of a Food Truck – Mike Wilson, Pop’s Street Eats
- Fletcher, Griffin. Beauty in Power – WKU Women’s Rugby Club
- Gordon, Zora. The Mixed Experience
- Hornsby, Morgan. Bonfire
- Waters, Adrianna. Mispoken – Communication Disorders
- Chu, Phi. Home Base – Jessica Barks
- Cooksey, Catrina. Rerouted – Sydney Clark, Austin Clark, Blake Perkins, Sheila Flener, Handicapped Persons
- Good, Hannah. Not Safe for Work – Prostitution
- Chu, Phi. Transfigured Night
- Carter, De’inara. Passing the Plate – International Students, Recipes
- Robb, Hayley. From Sole to Soul – …
Do Hotel Guests Act According To Their Intentions As It Relates To Sustainability In A Hotel Setting?, Heather A. Price
Do Hotel Guests Act According To Their Intentions As It Relates To Sustainability In A Hotel Setting?, Heather A. Price
Honors Theses and Capstones
As humans continue to use our planet’s resources at a rapid pace, we must act quickly to implement solutions and strategies that will create a positive impact on our environment. The hotel industry represents a huge opportunity for increasing sustainability practices, as these establishments tend to consume tremendous amounts of natural resources through energy and water usage; thus creating quite a bit of waste. For this customer-centric industry, change starts with consumer expectations and intentions to act. The purpose of this study was to assess hotel guests’ values and intentions for sustainable hotels, and compare how this aligns with their …
Universities And Sustainable Food Practices: An International Comparison Along The Pacific Coast Of North America, Alexandra Schulte
Universities And Sustainable Food Practices: An International Comparison Along The Pacific Coast Of North America, Alexandra Schulte
Mahurin Honors College Capstone Experience/Thesis Projects
My research project examined sustainable practices in relation to food sources at three universities located along the Pacific Coast of North America. The academic institutions were the University of Alaska Anchorage (UAA), the University of California Santa Barbara (UCSB), and the University of British Columbia (UBC) in Vancouver. These schools were selected because while they each foster an abundance of “local” foods and food industries, they represent different stages in the three pillars of sustainability for food practices. My project sought to understand the role of each institution in building a local and sustainable food culture at each university. I …
Newsvendor Models With Monte Carlo Sampling, Ijeoma W. Ekwegh
Newsvendor Models With Monte Carlo Sampling, Ijeoma W. Ekwegh
Electronic Theses and Dissertations
Newsvendor Models with Monte Carlo Sampling by Ijeoma Winifred Ekwegh The newsvendor model is used in solving inventory problems in which demand is random. In this thesis, we will focus on a method of using Monte Carlo sampling to estimate the order quantity that will either maximizes revenue or minimizes cost given that demand is uncertain. Given data, the Monte Carlo approach will be used in sampling data over scenarios and also estimating the probability density function. A bootstrapping process yields an empirical distribution for the order quantity that will maximize the expected profit. Finally, this method will be used …