What are the requirements of all linear programming problems?
What will be an ideal response?
1. maximization or minimization of an objective function 2. the presence of restrictions (constraints), 3 . alternative courses of action to choose from, 4. the objective and constraints expressed in terms of linear equations or inequalities
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Jill lives in an area where driving conditions can be hazardous in winter months because of ice and snow. Jill purchased a four-wheel drive vehicle and she puts studded snow tires on her vehicle during the winter months. These measures are examples of:
(a) risk transfer (b) risk retention (c) risk avoidance (d) loss control
Which of the following terms refers to a charge or claim against property that exists to satisfy some debt or obligation?
A. lien B. demurrage C. certiorari D. dead freight