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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.
#use the simple method to solve the following L.P.P. Maximize Z =4X1 +10X2 subject to constraints, 2X1 +X2 2X1+5X2 2X1 +3X2 X1,X2 > 0
Usefulness of Correlation 1.Correlation is very useful to economists to study the relationship between variables like price and quantity demanded. To businessmen it
Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment
explanation
#what are the methods of OR ?
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
what is factory act
full detailor theory on graphical method
Tentative explanations when formulated as propositions are called hypotheses. It is very important to state the hypothesis and its anticipated consequences before star
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