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 management, Data Management As your  research project progresses ...

Data Management As your  research project progresses you will  quickly  gather more  and more  data. These need  to be managed in such  a way that they  can be  accesses and

On the basis of ratio of change direction, On the  Basis  of Ratio of Ch...

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

Short question, write down any two assumption of L.P

write down any two assumption of L.P

Linear programming, 3. A paper mill produces two grades of paper viz., X an...

3. 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

Big M mehod, source code in c available?

source code in c available?

Model building, model building is the essence of the operational research d...

model building is the essence of the operational research discuss

Essentials of a good scientific methods, Requisites of a Good Scientific Me...

Requisites of a Good Scientific Methods The essentials of a good scientific methods as summed up by the advisory committee on economic and social research of the council of

HOMEWORK, A company uses 4 pounds of resource 1 to make each unit of X1 and...

A company uses 4 pounds of resource 1 to make each unit of X1 and 3 pounds of resource 1 to make each unit of X2. There are only 150 pounds of resource 1 available. Which of the fo

Scope, write the scope of operation research

write the scope of operation research

Reference books - report writing presentation , Reference Books If an ...

Reference Books If an article  in a reference  books has more  than one  author use the  same  format  for  authors  given for  books above. a. Authors Known :Authors last

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