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Merits
a.It is simple to understand and easy to calculate.
b.It is very useful in the case of data which are of qualitative nature like intelligence honesty beauty efficiency etc.
c.No other methods can be used when ranks are given except this.
d.When the actual data are given this method can also applied.
a pipe lis dur for rpair,the repair would cost 10000 and it would last for 3 years.alternatively a new pipe line can be purchase at 30000 for 10 years.assuming 10% depriciation rat
Explain why it may be advantageous to build models to help in solving a decision problem.
The manufacturer of the product is finding that, in order to stay competitive, a number of things need to happen: Components of the product need to be made from more sustaina
Knowledge: The dictionary definition of knowledge is 'organised body of information or the comprehension and understanding, consequent on having acquired an organised body of
Simple Graph The values of the two variables are plotted on a graph paper. We get two curves one for x variables and another for y variables. These two curves reveal the dir
Use of the Graphs a . It simplifies the complexities of large numbers or that of large mass of data. In general graphical or some other method or representation is ad
Problem: A policy maker is considering several policy options that lead to different utility levels of different individuals a) Which Policy is would be optimal according t
full detailor theory on graphical method
if there were n workers and n jobs there would be
Question 1 A) Differentiate among descriptive and inferential analysis of data B) Describe with examples various measures of Central Tendency Question 2 The chi-square
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