An Advantage of Buying Component Parts, or Even an Entire

question 68

Multiple Choice

An advantage of buying component parts, or even an entire product, from independent suppliers is that:

• A) it can make planning, coordination, and scheduling of adjacent processes easier for the firm.
• B) the firm can maintain its flexibility by switching orders according to circumstances.
• C) the firm will be able to maintain strict control over its proprietary technology.
• D) the firm will have access to superior quality raw materials and will deliver high quality products.

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Definitions:

Observations

Records or measurements of variables or phenomena of interest, collected during an experiment or study.

Sample

A selection from a broader population designed for the process of collecting data, through either observation or questioning, to generate statistical insights about that population.

Mean

The arithmetic average of a set of numbers computed by adding them together and dividing by the count of those numbers.

Median

The middle value in a data set when the values are arranged in ascending or descending order.