The Supplier Evaluation Process That Includes: (1)factors or Criteria for Evaluation

question 1

Multiple Choice

The supplier evaluation process that includes: (1) factors or criteria for evaluation, (2) the importance of each factor,and (3) a system for rating each supplier on each factor,is called a(n) :

• A)weighted point evaluation.
• B)executive roundtable evaluation.
• C)categorical evaluation.
• D)qualitative evaluation.
• E)informal evaluation.

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Definitions:

Standard Error

A statistic that measures the dispersion of sample means around the population mean, often used to estimate the precision of sample statistics.

Regression Line

A straight line that best fits the data in a linear regression analysis, representing the relationship between the independent and dependent variables.

Slope

The measure of the steepness or incline of a line, indicating the rate at which the y-value changes relative to the x-value.

Prediction Interval

A prediction of the range within which future data points are expected to lie, based on current observations, with a specified level of confidence.