Which mathematical model revolutionized retail inventory management by introducing the concept of 'optimal stocking levels' based on probabilistic demand forecasting?

In the intersection of mathematics and retail, one revolutionary analytical approach transformed how retailers understand customer behavior and optimize inventory. This mathematical innovation has saved retailers billions in inventory costs while simultaneously improving customer satisfaction. Test your knowledge about this significant development that changed modern retail analytics forever.

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The Newsvendor Model (also known as the Newsboy Problem)
Markov Chain Monte Carlo (MCMC) Analysis
The Black-Scholes Option Pricing Model
The Mandelbrot Set Fractal Analysis