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CORRELATION
Correlation is the study of the liner relationship between two variable when there is a relationship of quantitative measures between two set of variable the appropriate statistical tool for measuring the relationship and expressing each in a precise way is known as correlation. For example there is a relationship between the heights and weights of persons demand and prices of commodities etc.
According to W.I. King Correlation means that between two series or groups of data there exists some relationship connections.
According to croxton and Cowden" The appropriate statistical tool for discovering and measuring the relationship of quantitative nature and expressing it in brief formula is known as correlation.
The coefficient of correlation measures the degree of relationship between two set of figures. As the reliability of estimates depend upon the closeness of the relationship it is imperative that utmost care be taken while interpreting the value of coefficient of correlation otherwise fallacious conclusion can be draw.
Horton and hunt have given followings nine characteristics of scientific method: 1. Verifiable evidence i e, factual observations which other observers can see and check
marginal rate of substitution, degeneracy and degenerate solution
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
A company produce three sizes of windows fans small,medium and large. The manager has formulated an LP model for production.
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
STANDARA DEVIATION Standard deviation is the square root of the arithmetic average of squares of all the deviations from the mean. In short it may be defined as th
The demand of ice cream during the three summer months (June, July, and August) at All-Flavors Parlor is estimated at 500,600, and 400 20-gallon cartons, respectively. Two wholesal
Techniques of Work Measurement A number of work measurement techniques have been developed to suit different types of work . There are: 1. Repetitive work: The
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment
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