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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.
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
The Operations Function has always relied heavily on information for its smooth running. During this course information has been introduced as one of the five inputs to the convers
You are a manager at a medium sized manufacturing operation that sells a customized product directly to the consumers and the data pattern is linear but it can have the occasion ra
A company is planning its advertising strategy for the next year for its three major products.
These models are used when one must decide the optimal time to replace equipment for one reason or the other for instance, in the case of equipment whose efficiency dete
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
a practical example
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Operation research makes no allowance for intangible factors such as skill attitude vigor of the management people in taking decisions but in many instances success or fail
#question.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 grad
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