Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Usefulness of Correlation
1.Correlation is very useful to economists to study the relationship between variables like price and quantity demanded. To businessmen it helps to estimate costs sales price and other related variables.
2.Some variables show some kind of relationship, correlation analysis helps in measuring the degree of relationship between the variables like supply and demand price an supply income and expenditure etc.
3.The relation between variables can be verified and tested fro significance with the help of the correlation analysis. The effect of correlation is to reduce the range of uncertainty of our prediction.
4. The coefficient of correlation is a relative measure and we can compare the relationship between variables which are expressed in different units.
5.Sampling error can also be calculated.
6. Correlation is the basis for the concept of regression and ratio of variation.
a. What do you mean by linear programming problem? Explain the steps involved in linear programming problem formulation? b. A paper mill produces two grades of paper viz., X and Y.
Ask questioA farmer intends to drill a well for his herd. In the past, only 80% of the wells drilled in this area were successful at 12 metres of depth. On finding no water at 12 m
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
b. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y pape
Importance of Normal Distribution Normal distribution plays a very important role in statistical theory and in particular in sampling theory. It has been found th
The supply of a certain good is inspected periodically. If an order is placed of size x >0 (integer), the ordering costs are 8+2. x. The delivery time is zero. The demand is stoc
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i
3 In a rectangular game, pay-off matrix of player A is as follows:
explain characteristic of operation of research.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd