What Must the Government Do When It Wants to Buy

question 92

Multiple Choice

What must the government do when it wants to buy a standard product?

• A) It uses a negotiated contract and selects only a few firms.
• B) It inspects products from eligible bidders and chooses the best in quality.
• C) It sends out a detailed description of the product to qualified bidders.
• D) It awards the contract to larger businesses because they provide better services.
• E) It usually chooses a past supplier that it knows is reliable.

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Definitions:

Y-Intercept

The point at which a line crosses the y-axis on a graph, representing the value of y when x equals zero.

Regression Analysis

A statistical approach used to analyze the connection between a dependent variable and one or more independent variables.

Standard Deviation

Indicates how much the individual data points in a data set generally deviate from the mean of the data.

Mean

The mean of a collection of numbers, found by summing all the numbers and then dividing by the total number of values.