Project #51365 - discussion question

Case: Statistics in Action: Bid-Rigging in the Highway Construction Industry (graded) Read the Case: Statistics in Action: Bid-Rigging in the Highway Construction Industry, in Chapter 11 of your textbook, and answer the following questions. The data set, FLAG, for the case study is available in the publisher’s website, so you don’t need to enter the data into Minitab by hand. What is this case about? Describe the key variables statistics IN Action Bid-Rigging in the Highway Construction Industry In the United States, commercial contractors bid for the right to construct state highways and roads. A state government agency, usually the Department of Transportation (DOT), notifies various contractors of the state’s intent to build a highway. Sealed bids are submitted by the contractors, and the contractor with the lowest bid (building cost) is awarded the road construction contract. The bidding process works extremely well in competitive markets but has the potential to increase construction costs if the markets are noncompetitive or if collusive practices are present. The latter occurred in the 1980s in Florida. Numerous road contractors either admitted or were found guilty of price fixing (i.e., setting the cost of construction above the fair, or competitive, cost through bid-rigging or other means).   This Statistics in Action involves data collected by the Florida attorney general shortly following the price-fixing crisis. The attorney general’s objective is to build a model for the cost (y) of a road construction contract awarded using the sealed-bid system. The FLAG file contains data for a sample of 235 road contracts.   The variables measured for each contract are listed in Table SIA11.1. Ultimately, the attorney general wants to use the model to predict the costs of future road contracts in the state.

Subject Mathematics
Due By (Pacific Time) 12/11/2014 12:00 am
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