All of the Following Are Conditions Under Which Competitive Bidding

question 13

Multiple Choice

All of the following are conditions under which competitive bidding is effective except _____.

• A)the buyer has a preferred supplier for the item
• B)volume is high enough to justify this method
• C)the marketplace is competitive
• D)the specifications or requirements are clear to the seller
• E)adequate time is available for suppliers to evaluate the RFQs

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Definitions:

Expected Frequency

The predicted number of times an outcome is expected to occur in a statistical experiment based on the probabilities of all possible outcomes.

Sample Size

The number of observations or data points collected in a sample for the purpose of statistical inference.

Contingency Table

A data table that displays the frequency distribution of variables to analyze the relationship between categorical variables.

Test Statistic

A value calculated from sample data used to make a decision about a hypothesis in statistical testing.