All of the Following Are True of Government Markets Except

question 193

Multiple Choice

All of the following are true of government markets except

• A) the government is the largest customer group in all countries.
• B) most government customers buy by specification using a mandatory bidding procedure.
• C) the government buyer must often accept the lowest bid that meets the specifications.
• D) by law, a government unit might have to accept the lowest bid even for an unwanted product.
• E) government purchases are usually subject to much public review.

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Definitions:

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.

Standard Deviation

An indicator of the degree of unevenness or spread among values in a statistical set.