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

Data and information, Data and Information: The term "data" (plural fo...

Data and Information: The term "data" (plural form of datum) refers to "an individual fact, statistic, or a piece of information or a group or a body of facts, statistics or t

Determine the best age at which to replace the machine, Question: Machi...

Question: Machine A costs Rs. 9000. Annual operating costs are Rs. 200 for the first year, and then increase by Rs. 2000 every year. Suppose that the machine has no resale valu

Linear problem, #q A paper mill produces two grades of paper viz., X and Y....

#q 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

Vogel''s approximation method, I''m getting a negative value in the one of ...

I''m getting a negative value in the one of the Supply/Stock columns while solving a problem in Vogel''s approximation method. Is it possible or am I doing anything wrong?

Problems based on lpp when feasible region is a line segment, Problems base...

Problems based on LPP when feasible region is a line segment or it does not exist. 1.    Maximize z = 2x+3y subject to the constraints X + y ≤ 1 X + y ≥ 3 X,  y ≥ 0

Simplex method, Solve the following Linear Programming Problem using Simple...

Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0

Operation research, 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

Assignment SMU, A paper mill produces two grades of paper viz., X & Y. Bec...

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.

Mba, in a rectangular game ,pay of matrix of player A is as follows

in a rectangular game ,pay of matrix of player A is as follows

LINEAR PROGRAMMING, A DRUG MANUFACTURER produces 2 products X1 and X2.X1 ne...

A DRUG MANUFACTURER produces 2 products X1 and X2.X1 needs 2 hours on machine A AND 2 HOURS ON MACHINE B.X2 needs 3 hours on machine A and 1 hour on machine B.If machine A can run

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