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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.
SIMO Chart Flow Diagram The flow diagram is a drawing indicating the paths of men materials or components on a scale plan of the work area, department or factory.
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On the Basis of Ratio of Change Direction a. Linear Correlation: The correlation between two variables a said to be liner if corresponding to a unit change in th
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Variables A concept which varies is variable. These can be different in quantitative values. For example, weight, height, income are examples of variables. Qualitative phenom
Q3. Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 4 X
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This is determined by disposable personal income( personal income minus direct taxes and other deductions ). Some people suggest the use of discretionary income in place of
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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