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Meaning and Definition
If a group of N observations is arranged in ascending or descending order of magnitude then the middle value is called median of these observations and is denoted by M or Me. That is M= N+1/2 th observation.
According to Prof. L. R. Conner The median is that value of the variable which divides the group into two equal parts one part comprising of all values greater and the other all values less than the median.
According to Yule and Kendall " The median may be defined as the middle most or central values of the variable when the values are arranged in order of magnitude or as the value is such that the greater and smaller values occur with equal frequency.
Demerits of Range a.It gives importance to the two extreme values and is very much affected by the extreme items. b.The range provides no information about the st
Goal Programming This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals c
application area of linear programing problem
How do we determine EOQ?
A paper mill produces two grades of paper viz., X and Y. Because of raw each) material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of g
Mode of Presentation A strategy needs to be chalked out for a satisfactory rendering of the topic. The man oeuvres are going t vary with a change in the manner of
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Question : (a) (i) What do you understand by the term "operations research"? (ii) Discuss three common operations research models. (b) Self-service at the university c
Standard Deviation The standard deviation of samples (s) can be estimated by the pilot study past studies and the ranges of distribution. A pilot study may be conducted
MEAN DEVIATION Mean deviation of a series is the arithmetic average of the deviations of various items from the median or mean of that series. Median is preferred
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