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When determining a minimum bid price,you should assume the
R-chart
A control chart used to monitor the range of variability within a process as a measure of dispersion.
Past Process Performance
Historical data analysis of a process' operational performance, used to identify trends, efficiencies, and areas for improvement.
R-chart
A type of control chart used for monitoring the range of variation within a sample.
Sampling Distribution
The probability distribution of a given statistic based on a random sample, used to make inferences about the population.
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