Refined Error Estimates for Milne–Mercer-Type Inequalities for Three-Times-Differentiable Functions with Error Analysis and Their Applications

In this study, we examine the error bounds related to Milne-type inequalities and a widely recognized Newton–Cotes method, originally developed for three-times-differentiable convex functions within the context of Jensen–Mercer inequalities. Expanding on this foundation, we explore Milne–Mercer-type inequalities and their application to a more refined class of three-times-differentiable s-convex functions. This work introduces a new identity involving such functions and Jensen–Mercer inequalities, which is then used to improve the error bounds for Milne-type inequalities in both Jensen–Mercer and classical calculus frameworks. Our research highlights the importance of convexity principles and incorporates the power mean inequality to derive novel inequalities. Furthermore, we provide a new lemma using Caputo–Fabrizio fractional integral operators and apply it to derive several results of Milne–Mercer-type inequalities pertaining to (α,m)-convex functions. Additionally, we extend our findings to various classes of functions, including bounded and Lipschitzian functions, and explore their applications to special means, the q-digamma function, the modified Bessel function, and quadrature formulas. We also provide clear mathematical examples to demonstrate the effectiveness of the newly derived bounds for Milne–Mercer-type inequalities.