MatlaB simulation, of single server queue and multi-channel server and inventory system

1. Project Title : Inventory problem

Prog. Language : MATLAB / JAVA / C++

Project type : The News Dealer Inventory System

Newspapers seller buys the newspaper with 33 cents each and sells them for 50 cents

each. Newspapers not sold at the end of the day are sold as scrap for 5 cents each.

Newspapers can be purchased in bundles of 10. Thus, the seller can buy 50, 60, and so

on. There are three types of Newsday, “good”, “fair”, and “poor” with probabilities of

0.35, 0.45, and 0.20 respectively. The distribution of papers demanded on each of these

days is given in table 2.1. The problem is to determine the optimal number of papers the

seller should purchase to increase his profit.

Assumption: the profits are given by the following relationship:

Profit = [(revenue from sales) – (cost of newspapers) – (lost profit from excess

demand) + (salvage from sale of scrap papers)]

Project 2 - The News Dealer - marking criteria