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In the figure above the vertical deviations of the individual points from the line are shown as the short vertical lines joining the points to the least squares line. These deviations will be denoted by the symbol the value of e varies from one point to another. In some cases it is positive in others it is negative. If the line drawn happens to be the least squares line then the value of ∑e2 is the least possible. It is because of this feature the methods is known as least squares methods.
Why we insist on minimizing the sum of squared deviations is a question that needs explanation. It we denote the deviation from the actual value y to estimated value (Y - Y )or e it is logical that we want the ∑ ( Y-Y) or ∑ e to be as small as possible however mere examining ∑ ( Y-Y) or ∑ e is inappropriate since any e can be positive or negative and large positive value and large negative values could cancel one another out. But large values of e regardless of their sign indicate a poor prediction. Even if we ignore the sings while working out ∑e the difficulties may continue to be there . hence the standard procedure is to eliminate the effect of sings by squaring each observation. Squaring each term accomplishes two purposes viz.
VK Ltd a multi product company, furnishes you the following data relating to the year 2000. First half sales Second half sales Sales Rs.45000 Rs.50000 Total cost Rs.40000 Rs.43000
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Step 1: Add to the transportation table a column on the E? HS titled u and row in the bottom of it labelled v. Step 2: a. Assign any value arbitrarily to a row or column
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Goals of Business process reengineering - The goals of business process Reengineering is as follows: - A) To reduce time B) To reduce cost C) For customer satisfaction
compare the liability of the owners of partnerships, sole proprietorship and corporations.
QUESTION 1 Motivating employees is a very important aspect of the manager's job. In this context, discuss the relevance of the Maslow's hierarchy of needs in motivating employe
QUESTION (a) Describe the levels and stages of decision making (b) What is the difference between a structured, unstructured and semi structured decisions? (c) List the t
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