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Uses of Mean Deviation
Mean Deviation is rarely being used as a measure of dispersion. But due to easy and simplicity in calculation. It is rather useful in business and economics. This is also used by national bureau of economic research America for studying business cycles.
Edwards Life Sciences is trying to decide if it should sell a new type of medical product. Fixed costs associated to the production of the product are estimated to be $30,000. Th
A factory employs unskilled workers earning $135 per week and skilled workers earning $270 per week. It is required to keep the weekly age bill below $24,300. The machine requires
Small Sample The central limit theorem does not work well with small samples even if the population in non Gaussian. So we cannot rely on the central limit theorem
correct answer
Area under Standard Normal Curve The graph of the standard normal curve y = p(z) with different percentages areas is shown here. Since p(z) is a probability distributi
1. Determination to enter a new territories. 2. To decide to enter a new market or not. 3. To determine how much production capacity to be builds up. 4. Helpful in
Making Decision Lastly a decision should be arrived as to whether the null hypothesis is to be accepted or rejected. In this regard the value of the test statistic
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 paper
procedure of modi method
in a rectangular game pay off matrix of player a is as follows B1 B2 A1 5 7 A2 4 0 salve the game write down the pay off matrix of B and then solve the ga
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