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 paper mill prodecs 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 in
The following equation gives Jane's linear demand curve for visits to a nearby national park. Q is the number of visits per week and P represents the price of a pass (price per vi
Principles of Report Writing Reports writing may involve the followings principles . a. Easy to Follow : The body of the report should be written in a self evident and
Calculation of Standard Deviation - Continuous Series: In the continuous series the methods of calculation standard deviation is almost the same as in a discrete frequency distrib
Assumption for students Test a.The parent population from which the samples is drawn in normal. b.The sample observations are random i ,e the given sample is drawn
how to use the hungarian method
Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 4 X1+ X2 2 X1, X2 0on..
Solve by Steps for Two-Phase Method Max Z = 5x 1 + 8x 2 Subject to 3x 1 + 2x 2 ≥ 3 x 1 + 4x 2 ≥ 4 x 1 + x 2 ≤ 5 & x 1 ≥ 0, x 2 ≥ 0 Answe
Machine Tabulation This methods of tabulating information is generally used in case of extensive large scale surveys. Mechanical sorting and tabulating equipments and su
Customers arrive to a super market according to a Poisson process with intensity V = ½ per minute. The supermarket has two counters, that use a common queue. Counter 1 is always o
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