Briefly Outline Transaction Cost Economics as It Relates to IT

question 113

Essay

Briefly outline transaction cost economics as it relates to IT outsourcing.

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Definitions:

Sampling Distribution

The probability distribution of a given statistic based on a random sample, used to make inferences about the population.

Common Cause Variation

The variation in a process that is random and inherent to the process itself, as opposed to being caused by identifiable factors.

Conjugate Acid

The species formed when a base gains a proton (H+), effectively showing the protonated form of the base.

Conjugate Base

The species that remains after a Bronsted-Lowry acid has donated a proton, capable of accepting a proton to reform the acid.