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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.
The Omega company, Brisbane, produces potato chips, corn, cheese twists, and popcorn. These products are made in Brisbane and then shipped to company warehouses and distribution ce
Use Big M method to Maximize(Z)=3_(x_1 )+2_(x_2 ) Subject to 3_(x_1 )+?1.5?_(x_2 )=30 x_1+x_2=20 x_1=0 x_2=0
ANSWER OF ACTIVITY WITH THEIR PRECEDING ACTIVITY AND DURATION OF TIME IN WEEKS?
Standard Deviation The standard deviation of samples (s) can be estimated by the pilot study past studies and the ranges of distribution. A pilot study may be conducted
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The following linear programming is written to plan the production of two products. And the company wants to maximize profits. x1 = number of product 1 produced in each batch
correct answer
You are required to investigate and examine aspects of planning and organisational structure for a 'real-life' organisation. This assessment enables you to relate the theories and
What is meant by a mathematical model of a real situation? Discuss the importance of models in the solution of Operations research problems
Usefulness of Correlation 1.Correlation is very useful to economists to study the relationship between variables like price and quantity demanded. To businessmen it
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