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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 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
Trade Literature: Trade literature consists of documents that give information on the processes and materials involved in the manufacture of a product, various types of produc
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
explain the different techniques as operation research
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
This method involves a systematic and comprehensive study of a particular community organization group etc, with a view to the analysis of a social problem and the presen
A paper mill produces two grades of paper viz., X & Y. Because of raw material restrictions, it cannot produce more 400 tons of grade X paper & 300 tons of grade Y paper in a week.
what is the methodology of operation research?
Select five Operations Research techniques and describe in detail the real world application of such techniques in business decision making.
Question 1 Discuss the impact of Henry Fayol's principles of management on the modern techniques of management with the help of suitable examples Question 2 Explain the Gary
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