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STANDARA DEVIATION Standard deviation is the square root of the arithmetic average of squares of all the deviations from the mean. In short it may be defined as th
In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
Select five Operations Research techniques and describe in detail the real world application of such techniques in business decision making.
Scattered Responsibility and Authority: In a big industry responsibility and authority of decisions making is scattered throughout the organization and thus the organization.
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
Video Tapes Video tapes are very information and attention grabbing presentational supports. They are best for illustrating the persons in actions and presen
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
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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