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When using competitive bidding to determine prices,the purchaser should ensure that the bidders are:
Null Hypothesis
A default hypothesis that there is no significant difference or effect, often tested against an alternative hypothesis in statistical analyses.
Confidence Interval
A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, based on a specified confidence level.
Proportion Difference
The difference in proportions (or percentages) between two groups in a study, used to assess the effect of a treatment or intervention.
Canadians
Residents or citizens of Canada, a country in North America.
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