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Income Analysis of Vegetable Commodities Based on Mathematical Programming

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DOI: 10.23977/ferm.2023.061105 | Downloads: 7 | Views: 290

Author(s)

Haoming Tian 1, Ye Zhang 1, Runduo Ding 1

Affiliation(s)

1 Faculty of Electrical and Control Engineering, L. N Technical University, Fuxin, Liaoning, China

Corresponding Author

Haoming Tian

ABSTRACT

The income of vegetable commodities is particularly important for supermarkets. Mastering the sales rules of vegetable commodities and meeting the needs of consumers is the key to the success of supermarkets. Based on the data in the attachment of Question C of the 2023 National Mathematical Modeling Competition for College Students, this paper establishes a price elasticity model to explore the sensitivity of the sales volume of different categories of vegetables to the sales price. Then the profit rate is regarded as the addition proportion, the unitary regression model is established, the corresponding fitting curve is drawn, and the relationship between the two is found to be inversely proportional. Further, based on the idea of mathematical planning, the goods income model is established, taking the income as the target equation and discount frequency as the discount probability, in order to calculate the weighted average price of each vegetable. At last, Newton's iterative method is used to calculate that the maximum commercial surplus income from July 1 to 7, 2023 is 11875.252 yuan.

KEYWORDS

Price elasticity model, Goods revenue model, Newton iteration method

CITE THIS PAPER

Haoming Tian, Ye Zhang, Runduo Ding, Income Analysis of Vegetable Commodities Based on Mathematical Programming. Financial Engineering and Risk Management (2023) Vol. 6: 33-38. DOI: http://dx.doi.org/10.23977/ferm.2023.061105.

REFERENCES

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