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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.
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Given an inventory system where Yearly demand = 120 units Ordering cost = Sh. 45 Price per unit = Sh. 200 Annual carrying cost = 24% of the unit cost Determine The economic or
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A paper mill prouduces two grads of paper viz., X and Y. Becouse of raw material restriction, it cannot product more then 400 tons of grade X paper and 300 tons of grade Y paper in
what operation research analysts do not
example exercises of these
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
Small Sample The central limit theorem does not work well with small samples even if the population in non Gaussian. So we cannot rely on the central limit theorem
b. 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 pape
Annotated bibliography In this bibliography each is followed by a one sentence or one paragraph description of the content of the work cited. For example Bndypad
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