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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

Consumer Co-Operative Store and Proprietary Retails Shop

This article will help you to differentiate between Consumer Co-Operative Store and Proprietary Retails Shop. Difference # Consumers' Co-Operative Store: 1. Co-operative store is a co-operative organisation and follows principles of co-operation. 2. Co-operative store aims at offering service to the members and the society. It can never indulge in profiteering, black marketing, etc. It offers maximum social benefits. It [...]

By |2016-07-12T14:11:12+05:30July 12, 2016|Product Distribution|Comments Off on Consumer Co-Operative Store and Proprietary Retails Shop
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