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Z or t StatisticsIf n ≥30 we use Z, if, n < 30 we use t statistics. These statistics can be used to test the hypothesis:
Ho: B = O that is, there is no relationship between X and YHA: B≠ O There is a significant relationship between X and Y
The level of significance is α = 0.05
The degrees of freedom = n-k-1Conclusion:
Reject Ho since computed T > tc. This means that there is a significant relationship between the labour costs and number of units.
The Role of Computers in Simulation Computers can be used to: 1) To generate the random numbers 2) To simulate thousands of trials. This is done extremely fast, accuratel
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BUDGETARY CONTROLS Control in a business is the process of guiding organization into viable patterns of activity in an environment. The main purpose of a control system is to m
JIT purchasing On the other hand is a purchasing system in which material purchased are contracted so as that the receipt and usage of materials to the maximum extent possible,
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