Which of the Following Best Explains 'Purchasing's Operational Contribution

question 17

Multiple Choice

Which of the following best explains 'purchasing's operational contribution'? 

• A) This is flawless purchasing and business processes that are operated at the lowest possible cost. 
• B) This refers to the relationship between planned and actual costs. 
• C) The savings made against budget allocation. 
• D) The longer term consequences of the activity.

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Definitions:

Sample Regression Equation

An equation that estimates the relationship between the dependent variable and one or more independent variables based on sample data.

Intercept Term

A constant term in a regression equation that represents the expected value of the dependent variable when all independent variables are zero.

Coefficient

A coefficient is a numerical or constant quantity placed before and multiplying the variable in an algebraic expression.

First-Order Regression

A linear regression analysis that involves a single independent variable to predict the outcome of a dependent variable.