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Significance of operation research
Uses of Range a.Range is suitable measure of dispersion when the data are too scattered to justify the computation of a more precise measure of dispersion. b.In rece
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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
Usefulness of Correlation 1.Correlation is very useful to economists to study the relationship between variables like price and quantity demanded. To businessmen it
a. Discuss the methodology of Operations Research.
Degree of Correlation ship 1. Perfect Correlation: When changes in two related variables are exactly proportional there is perfect correlation between them. In case
a paper mill prodecs 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 in
Disadvantages of Mode a.It is ill defined. b.It is indefinite and it is some cases impossible to find a definite value. c.It is not based on all observation. So i
Probability and Non Probability Sampling The following s are some of the considerations for the selection of probability an non probability sampling. 1.Sometimes p
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