Cost- sampling decisons, Operation Research

Assignment Help:

Cost- sampling decisons

 

                      σ x¯ =S/√n

     

Where is the  standard  error of he mean is the standard devaluation of  the population and n is the sample size. Here  the standard  error  of the mean is expressed in terms  of money i, e. ± Rs. 10. If the  standard  deviation is 100  the factor  for 95 percent  confidence is 1.96 of standard deviation. Thus  the actual size  of the  sample  would be

                10/ 1.96 = 100/√n

                 √n = 196/10

                N = 384

The total  cost of  the budget  been reduced from  Rs.8000 to Rs. 7680= ( 384x 20)

Another  alternative may be to  increase  the allowable error  from a lower  level to  higher level  provided  it does  not affect  the attitude  of the  respondents. For  example  if the  error is increased to  15, the sample  size will be

         σ x¯ =s/√n

        1.5/1.96= 100√n

      √n= 196/ 15

     N= 169

Thus  the total  budget  will be reduced from  Rs. 8000 to Rs. 3380= ( 196x 20)

    

 


Related Discussions:- Cost- sampling decisons

Linear programing, Maximize6x1+8x2+5x3,st,labour3x1+4x2+5x3 =0 then brefly ...

Maximize6x1+8x2+5x3,st,labour3x1+4x2+5x3 =0 then brefly explain x1,x2,x3;term labour,metal&plastic;the160hours;x1,x2&x3>=0

project management , Project Management Your  data need to be orga...

Project Management Your  data need to be organized in such  a way that  access to them  is both  quick  and accurate. In  achieving  this a good qualitative analysis progra

Cgj, application&techniques

application&techniques

Linear programmibg, A PAPER MILL PRODUCES TWO GRADES OF PAPER VIZ., X AND Y...

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

Model, Importance of models

Importance of models

Model building is the essence of the operations research app, Model buildin...

Model building is the essence of the operations research approaches?

Validity of the model - operation research model, Deriving the Solution fro...

Deriving the Solution from the Model: This phase is devoted to the computation of those value of decision variables that maximize or minimize the objective function. Such

Plz get the ans , #questioA paper mill produces two grades of paper viz., X...

#questioA 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

Fromulation of LPP, A paper mill produces two grades of paper viz., X and ...

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 ot grade Y paper in

Calculation of ranks correlation , Calculation of Ranks Correlation W...

Calculation of Ranks Correlation Where Ranks  are Given: When the  actual  ranks  are given  the steps  followed are: a.Compute  the difference  of the  two ranks  (R1 and

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd