An Organization That Decides to Buy All of a Certain

question 75

Multiple Choice

An organization that decides to buy all of a certain part from the same company is using

• A) single-supplier purchasing.
• B) multiple sourcing.
• C) same vendor analysis.
• D) straight rebuy.
• E) sole sourcing.

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Definitions:

Random Variable

A random variable is a variable whose values depend on outcomes of a random phenomenon.

Standard Normal Probability Distribution

A probability distribution that has a mean of 0 and a standard deviation of 1, used in statistics to represent standardized values of a dataset.

Z-statistic

A statistical measure that represents the number of standard deviations a data point is from the mean of a data set.

Probabilities

Measuring how likely it is for an event to occur, using a numeric scale that falls between 0 and 1.