Parameterized Simpson-like inequalities for differentiable Bounded and Lipschitzian functions with application example from management science

In this paper, based on a given parameterized identity that generates a quadrature rule family similar to Simpson’s second formula, we establish some new Simpson-like type inequalities for functions with bounded as well as Lipchitzian derivatives from which we can deduce the famous 3/8-Simpson’s inequality. The study concludes with an application example from management science.