The quotient of two correlated normal variables with applications

The purpose of this paper is to present new results on the distribution of the quotient of two correlated normal variables and its use to solve many outstanding problems in all fields of science, economics, industry, commerce, education, and medicine. The results are relatively simple and may encourage one to use the exact distribution of the quotient. Examples in medicine, economics and industry will illustrate the applications. Further, these results open a new vista for the solution not only of problems involving bivariate distributions but also multivariate distributions.