Dusty Is Evaluating Three Bids to Supply Fence Hardware for the 5

question 43

Multiple Choice

Dusty is evaluating three bids to supply fence hardware for the 5 acres of pasture that need to be fenced.Breezy submits a bid of $40 per unit with a defect rate of 3%; Lady's bid is $50 per unit with a defect rate of 0.5%; and Spike's bid is $30 per unit with a defect rate of 5%.If a section of fence fails,it costs an average of $500 in losses and herding costs to round up all of the capybaras.Dusty believes it will take 500 units to fence in this pasture configuration; which supplier should win the business?

• A) Spike
• B) Breezy
• C) Lady
• D) no difference between Breezy and Spike

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Definitions:

Confirmation Bias

The propensity to accumulate, perceive, select, and keep in mind information that endorses an individual's longstanding beliefs or propositions.

Cultural Knowledge

A vast store of information, accumulated within a culture, that explains how the world works and why things happen as they do.

Cultural Knowledge

Understanding and awareness of the customs, values, and social norms of a particular group or society.

Scientific Method

A systematic and logical approach to discovering how things in the universe work, involving observation, hypothesis formation, experimentation, and conclusion.