Thomas Wants to Get a Number of Bids for Parts

question 59

Multiple Choice

Thomas wants to get a number of bids for parts and components for the specialty food processing equipment his firm will manufacture.He has developed both detailed product specifications and an RFP.How can he distribute the RFP in order to notify a wide range of potential suppliers?

• A) Use his company's website
• B) Contact potential suppliers directly
• C) Invite current suppliers to bid
• D) Network through his trade association or Chamber of Commerce
• E) All of these

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Definitions:

Random Error

An error in measurement that leads to unpredictable deviations in the data.

Appropriate Statistic

The correct or suitable statistical measure or test selected based on the data type and analysis goal.

Research Hypothesis

A statement that proposes a relationship between two or more variables, often implying causation or a difference.

Binomial Distribution

A probability distribution that describes the possible number of successful outcomes in a fixed number of trials each with the same probability of success.