A Paving Contractor Wants to Work on Road Construction Contracts

question 139

Multiple Choice

A paving contractor wants to work on road construction contracts administered and paid for by the state government. The contractor submits a sealed proposal to the state department of transportation for each construction job. The proposal contains a description of how the contractor will fulfill the specifications for the job at a specified price. The contractor is engaging in:

• A) Odd-even pricing.
• B) Prestige pricing.
• C) Leader pricing.
• D) Bid pricing.
• E) Price lining.

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Definitions:

Error

The difference between a measured or calculated value and its true value, often considered in statistical and experimental data.

Interrater Reliability

The degree of agreement among different raters or judges, measuring the consistency of their assessments or observations.

Cronbach's Alpha

A statistical measure used to assess the reliability or internal consistency of a set of scale or test items.

Greek Letter

Symbols from the Greek alphabet used in mathematics, science, and engineering to represent variables, parameters, and specific values.