A Characteristic Whose Value May Change from One Individual to Another

question 68

Multiple Choice

A characteristic whose value may change from one individual to another is a:

• A)variable
• B)data point
• C)factor
• D)measurement
• E)statistic

---

Definitions:

Vickery Auctions

A type of sealed-bid auction where the highest bidder wins but pays the second-highest bid price, encouraging true valuation in bids.

Oral Auctions

Public sales where goods or services are sold to the highest bidder through verbal bids, often conducted in real-time with an auctioneer.

Sealed Bid Auctions

A type of auction where all bidders submit their bids without knowledge of the bids offered by other participants, often used in government contracts and private sales.

Bid-Rigging

Bid-rigging is an illegal agreement between parties to manipulate the outcome of a bidding process to their advantage, often at the expense of others.