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

Observation and data collection - research phases, Observation and Data Col...

Observation and Data Collection for Better Understanding of the Problem: Many times actual observations by trained observers at the scene of operation may be difficult and da

Modi, history of modi

history of modi

Mathematical, Ask 7:23 PM Docx Reader GROUP-7 1. A firm manufactures two pr...

Ask 7:23 PM Docx Reader GROUP-7 1. A firm manufactures two products A & B on which the profits earned per unit is Rs.3 and Rs.4. Each product is processed on two machines Miand M2.

Question, i need many good and important question of operation research obo...

i need many good and important question of operation research obout dinamic programing and non-liner programing and integer orograming ....for study! thank you

Steps of field study, Festinger and Katz have described followings six ste...

Festinger and Katz have described followings six steps in the conduct to a field study. a. Preliminary Planning :Deciding scope and objectives of study and the time table

Semeter 5, explian completelly the operation reserch

explian completelly the operation reserch

Method of calculation of mode - measure of central tendency , Method of cal...

Method of calculation of Mode Calculation  of Mode  Individual  series: For determining  mode count the  number of times the  various  values  repeat  themselves and the  va

Analytical and decision- making skills, This assessment aims to provide stu...

This assessment aims to provide students with the opportunity to hone their analytical and decision- making skills. It also aims to help students develop their ability to think cre

LPP, A paper mill produces two grades of paper viz., X and Y. Because of r...

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

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