<div>This research analyzes over 60,000 awarded highway contracts from 18 states throughout the United States. Analysis was performed on the state and aggregate level. The contracts were awarded from the years 2008 through 2018. Statistical analysis utilizing Pearson's Correlation and Ordinary Least Squares regression for each sample was performed to identify each variables relationship between the budget and awarded values.</div><div>The research examined effects of economic indicators, contractor descriptors and yearly/seasonal adjustments These variables included DBE Participation Goal, Number of Bidders, Project Dollar Value, Project Duration, Unemployment Rate, S&P 500 Index, Volatility Index, quarter, and year of project award. The results were examined by using a combination of simple statistical summaries and econometric coefficients called a cost vector. <br></div><div>Summary statistics observed Bid Difference at 8.5% below the Engineer's Estimate. The study observed DBE Participation Goals averaged 3.74% of the value of contracts, with an observed average of 4.5 bidders per contract. <br></div><div>The research determined that 55% of observed states had a positive significant correlation with DBE Participation Goal and Bid Difference. This correlation translated to nearly $80 million in additional cost. In addition, the research determined that all 19 groups in this study had a negative significant correlation with the Number of Bidders. The correlation translated to a savings of nearly $500 million. <br></div>
| Identifer | oai:union.ndltd.org:purdue.edu/oai:figshare.com:article/13270550 |
| Date | 16 December 2020 |
| Creators | Robert Thomas Ryan (9669701) |
| Source Sets | Purdue University |
| Detected Language | English |
| Type | Text, Thesis |
| Rights | CC BY-NC-SA 4.0 |
| Relation | https://figshare.com/articles/thesis/EXAMINING_THE_RELATIONSHIP_OF_BID_DIFFERENCE_AND_DISADVANTAGED_BUSINESS_ENTERPRISE_PARTICIPATION_GOALS_IN_HIGHWAY_CONSTRUCTION_PROJECTS/13270550 |
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