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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.
Formulation of the Problem: Before proceeding to find the solution of a problem, first of all a manager should be competent enough to form an appropriate model. To do so f
make a research project for modern day companies on how they can make decisions using decision analysis
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Advantages of Mode a.It is easy to understand as well as easy to calculate. In can be found out by inspection. b.It is usually an exacta value as it occurs most fre
Important to Theoretical Distribution The science of theoretical distribution under which the frequencies of a variable are derived by some mathematical model without
A paper mill produces two grades of paper viz., X & Y. Because of raw material restrictions, it cannot produce more 400 tons of grade X paper & 300 tons of grade Y paper in a week.
In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
Chi Square Test for Independence of Attribute The chi square test can be used to find out whether two or more attributes are associated or not. This test helps in fin
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
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