Global Sourcing Is a Requirement and No Longer a Luxury

question 22

True/False

Global sourcing is a requirement and no longer a luxury for most firms.

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Definitions:

Central Limit Theorem

A statistical theory stating that the sampling distribution of the sample mean of any independent, random variable will approximate a normal distribution, given a sufficiently large sample size.

Sampling Distribution

A sampling distribution is a probability distribution of a statistic obtained through a large number of samples drawn from a specific population, used to infer properties of the population.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, showing how much each value in the set varies from the mean.

Sampling Distribution

The probability distribution of a given random-sample-based statistic.