Question

A. Define the followings: The Pareto principle: F ratio (Fo): B. Complete the following table Effect Level Significant Level Not significant Contribution n c 10% Small Effect 10%< 2 <20 % 20%of<30% 30% <50% > 50% C. Differentiate between the following Qualitative Factor Quantitative Factor Half normal probability plot Normal probability plot

Answer 1

Answer:

Pareto principle-

Pareto principle or 80/20 rule states that 80% of the effects are the results of 20 % causes or comes from 20 % causes.

F - ratio -

F ratio is simply the ratio of the values of two mean squares .

Or we can define it as F - ratio is the ratio of between and within group variance.

Table -

10%- 20% - weak effect - less significant

20%- 30% - moderate effect - significant

30%-50% - effective to a level - significant ( less than strong)

greater than 50 % - strong effect - strong significant

Quantitative factor -

Numerical outcomes

Effective in decision making

Analysis of financial situation

Qualitative factor -

cannot be measured

Examples - morale

Normal probability plot -

Graphical techniques

Measures deviations from normality

Includes raw data

Examples - skewness , kurtosis

Half normal probability plot -

Graphical tool

To assess factors which are unimportant

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