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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.
These models are used when one must decide the optimal time to replace equipment for one reason or the other for instance, in the case of equipment whose efficiency dete
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maximum 3x1+x2+x3-x4 subject to x1+5x2+3x3+4x4 x1+x2=-1 x3+x4
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The Best Corporation is considering making either minor or major repairs to a malfunctioning production process. When the process is malfunctioning, the percentage of defective it
These models are used for analyzing a system which changes over a period of time among various possible outcomes or states. The models while dealing with such systems describe tra
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
#questioA 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
maximize z=3x1+2x2 subgect to the constraints x1+x2 x1-x2 x1,x2>_0
An electro-mechanical product for use in a vehicle has been in widespread use for some time and has proved popular with customers, in terms of its operational performance and price
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