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Non-parametric tests cover techniques that do not rely on data belonging to any distribution. These include distribution free methods, which do not rely on assumptions that the data are drawn from a given probability distribution. As such it is the opposite of parametric statistics. It includes non-parametric statistical... read more

February 15, 2018

An important technique for analysing the effect of categorical factors on a response is to perform an Analysis of Variance. An ANOVA decomposes the variability in the response variable amongst the different factors. Depending upon the type of analysis, it may be important to determine: (a) which factors have ... read more

February 15, 2018

REQUISITES OF A GOOD AVERAGE OR MEASURE OF CENTRAL TENDENCY According to Prof. Yule, the following are the requirements to be satisfied by an ideal average or measure of central tendency. • It should be rigidly defined. • It should be easy to understand and calculate. • It should be based o... read more

February 15, 2018

Testing Procedure:  1.The first step is to state the relevant null and alternative hypotheses. whether the alternative hypothesis can either be accepted or stays undecided as it was before the test. 2.The second step is to consider the statistical assumptions being made about the sample in doing the test; fo... read more

February 15, 2018

Simple regression is used to examine the relationship between one dependent and one independent variable. After performing an analysis, the regression statistics can be used to predict the dependent variable when the independent variable is known. Regression goes beyond correlation by adding prediction capabilities.&... read more

February 15, 2018

Expectancy Theory: Victor Vroom developed the expectancy theory, which suggests that individual’s expectations about their ability to accomplish something will affect their success in accomplishing it. Therefore, this theory is based on cognition – on though processes that individuals use. The expectancy theo... read more

February 11, 2018

Goal setting Theory:  In 1960‘s, Edwin Locke put forward the Goal-setting theory of motivation. This theory states that goal setting is essentially linked to task performance. It states that specific and challenging goals along with appropriate feedback contribute to higher and better task performance. In simp... read more

February 11, 2018

Motivation is an internal state or condition (sometimes described as a need, desire, or want) that serves to activate or energize behaviour and give it direction. It is a drive that compels one to act because human behaviour is directed toward some goal. Motivation is intrinsic (internal); it comes from within based ... read more

February 11, 2018

Serious doubts have been expressed about the existence of the five distinct need categories, which Maslow hypothesized. There seems to be some overlapping between esteem, social, and physiological needs. Also, the lines between esteem, social, and self-actualization needs are not entirely clear. With these points in mind... read more

February 11, 2018

The process of individual behaviour can be understood by three models: Basic model of behaviour Stimulus Response model of behaviour MARS model of behaviour 1. Basic Model of behaviour This model shows that: The behaviour process is similar for all people. Actual behaviour... read more

January 12, 2018

Scientific Management Approach Scientific management approach was developed by F.W. Taylor at the beginning of the 20th century. This theory supported the use of certain steps in scientifically studying each element of a job, selecting and training the best workers for the job arid making sure that the workers follow... read more

January 12, 2018

Organizational behaviour offers several ideas to management as to how human factor should be properly emphasized to achieve organizational objectives. Organizational behaviour provides opportunity to management to analyse human behaviour and prescribe means for shaping it to a direction. Organizational behaviour ... read more

January 12, 2018

Analysis of Data:​ Correlation: In statistics and probability theory, correlation means how closely related two sets of data are.  Correlation does not always mean that one causes the other. It is very possible that there is a third factor involved.  Correlation usually has one of two directions. ... read more

January 08, 2018

The price elasticity of demand is not the similar for all commodities. It might be or low depending upon number of factor. These factors which effect price elasticity of demand, in short-term, are as below: Nature of Commodities: In developed countries of the world, the per capital income of the individuals is ge... read more

January 08, 2018

The term source indicates that the place of thing from where something emerges or come into existences. Source means origin of law. The source of law is relating to its validity. There is no unanimous view in respect of source of law among the thinkers. Here are five major sources of law which are discussed here under. ... read more

January 08, 2018

Nature and Scope of Marketing: Marketing is an ancient art & is everywhere. Formally or informally, people & organizations engage in a vast number of activities that could be called marketing. Good marketing has become an increasingly vital ingredient for business success. It is embedded in everything we... read more

January 08, 2018

Capital market is a marketplace where buyers and sellers involve in trade of financial securities like bonds, stocks, etc. The buying or selling is undertaken by participants such as individuals and institutions. Capital market consists of Primary Market and Secondary Market. Primary Market: Pr... read more

January 08, 2018

Making a decision is a critical part of any business project. A business proprietor can make firm decisions and stand by them, only when he is aware of the backgrounds of his marketplace. Laterally with the internal factors about your business, you also need to have broad understanding about the external factors affectin... read more

January 08, 2018

Following are the determinants of effective capacity: Facilities: The size and provision for growth are key in the design of facilities. Other facility influences include locational factors (distance to market, transportation costs, labor supply, energy sources). The design of the work area can determine how effi... read more

January 08, 2018

Following points must kept in mind while presenting Research Data; Tables and graphs: When significant amounts of quantitative data are presented in a report or publication, it is most effective to use tables and/or graphs. Tables permit the actual numbers to be seen most clearly, while graphs are superior for sh... read more

January 07, 2018