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

Operating system, represent a diagrammatic way of components of the os

represent a diagrammatic way of components of the os

Modi, history of modi

history of modi

Rehearse - report writing presentation , Rehearse Making  presentat...

Rehearse Making  presentation is not  simple. It  is extremely  important  for us  to realize the sanctity of rehearsing  to improve the quality of the presentation. Unless

Method of calculation of mean deviation, Method of Calculation of Mean  De...

Method of Calculation of Mean  Deviation a. Computation of Mean Deviation Individual Series : The process of computing mean  deviation in case  of individual series involves

Standara deviation - measure of dispersion , STANDARA DEVIATION Standa...

STANDARA DEVIATION Standard  deviation  is the  square  root of the  arithmetic  average of  squares of all  the deviations from the  mean. In short  it may  be defined  as th

Advantages of mean deviation - measure of dispersion, Advantages  of Mea...

Advantages  of Mean  Deviation a.It is based on all the  observation . any  change in any  item would  change the value of mean  deviation. b.Mean  deviation  is less  aff

Explain the method of taylor scientific management, a. Explain the method o...

a. Explain the method of "Taylor's Scientific Management". List the elements of Taylor's Scientific Management. b. List the necessary managerial functions of a Manager. Explain.

What is the temperature of water leaving the chillier, A water chillier wit...

A water chillier with a capacity of 30 TR cools 20 m 3 /hr. water entering at 12 o C what is the temp. of water leaving the chillier. A reversible engine has an ideal thermal ef

Multiple objectives- sampling decisions, Multiple  Objective s The sam...

Multiple  Objective s The sample  may vary according  to the  objective of the research. There  may several objectives  of marketing  research so the  sample  size  may vary a

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