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Selection of Random Numbers | Acceptance Sampling

Appendix A contains a portion of random number table. For convenience of readers, the digits are grouped into sets of 3 and are arranged in 12 rows on each page. For obtaining random number, a pencil may be dropped blindly and the starting point for reading of the numbers shall be the random digit nearest to the spot indicated by [...]

By |2016-11-02T05:59:44+05:30November 2, 2016|Production Management|Comments Off on Selection of Random Numbers | Acceptance Sampling

Probability: Concept and Its Application

After reading this article you will learn about the concept of probability and its application. Concept of Probability: The basic idea in the theory of probability is the law of large numbers. Probability concept states that certain mass phenomenon have a tendency towards regularity in behaviour i.e. if sample is drawn from the mass of universe (population) without any bias, [...]

By |2016-11-02T05:59:44+05:30November 2, 2016|Production Management|Comments Off on Probability: Concept and Its Application

Department Store: Meaning, Features and Advantages

After reading this article you will learn about:- 1. Meaning of Department Store 2. Features of Department Store 3. Advantages 4. Disadvantages. Meaning of Department Store: A department store is a huge retail shop situated at a central place in the city, divided into a number of small shops or departments each dealing with one or two lines of goods [...]

By |2016-07-12T14:11:12+05:30July 12, 2016|Product Distribution|Comments Off on Department Store: Meaning, Features and Advantages
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