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Concept of Variance in Decision making

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Module-III (Data Analysis)  Frequency Distribution  Cross Tabulation  Descriptive Statistics  Inferential Statistics  Estimation  Testing of Hypothesis  Univariate,  Factor Bivariate & Multivaraiate Analysis  Multi-Dimensional scaling  Classification of Data  Tabulation of data  Presentation of data  Data Analysis Measures of central tendency Measures of Dispersion Measures of Skewness Measures of Kurtosis Correlation & Regression Testing of Hypothesis Large sample test(Z-test) TEST FOR SINGLE MEAN A cinema hall has cool Drinks fountain supplying orange & colas. When the machine is turned on ,it fills a 550ml cup with 5ooml of the required drink. The manager has 3 problems. 1.The clients have been complaining that the machine supplies less than 5ooml. 2. The manager wants to make sure that the amount of cola does not exceed 500ml. 3. The manager want to minimize customer complaint & at the same time does not want any overflow. In the case of cinema hall, suppose n= 36, sample mean= 499ml & the specifications of the machine give the standard deviation of the output as 1 ml. The significance level is 10%. Test for difference mean Business Today has conducted a survey between Sonepur & Muzaffarpur on the hourly wages of laborers. Results of the survey are as follows. Town Mean Hourly Wages S.D Sample Sonepur Rs.8.95 Rs.0.40 200 Muzaffarpur Rs.9.10 Rs.0.60 175 Business Today wants to test the hypothesis at ...
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