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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.
Line Balancing Methods - Heuristic Approach Heuristic mean serving to find i.e. to find out discover things for oneself. Heuristic describes a particular approach to problem so
Scattered Responsibility and Authority: In a big industry responsibility and authority of decisions making is scattered throughout the organization and thus the organization.
Problem 1 Explain the key elements, which contribute to a sound and effective strategy. >>Explanation of following elements Market Consumers Competition Skil
Write a note on economic interpretation of dual?
These models deal with the selection of an optimal course of action given the possible pay offs and their associated probability of occurrence. These models are broadly
A certain type of machine breaks down at an average rate of 5/hour. the break down is in accordance with Poisson process.cost of idle machine hour is $15/hour. 2 repairmen Peter an
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
Conclusions and Recommendations Conclusions should be drawn with direct reference to the objectives of the study. The readers should be able to read the objectives. T
Techniques of Work Measurement A number of work measurement techniques have been developed to suit different types of work . There are: 1. Repetitive work: The
Books: Books form one of the primary sources of information. They provide a cohesively organised (thought content) information on a specific subject of optimum depth. Since b
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