The local franchise of a national bar and grill chain continued to serve a drunk customer. The drunk customer tried to drive home
He hit and killed two people who were riding bicycles. The representatives of those who were killed filed a lawsuit against the national chain. As jury awards in the area where the incident occurred are high, insurers selling liquor liability insurance refused to issue new coverage until the case was resolved. Because no admitted insurers sell the coverage, liquor liability insurance in this case is considered a(n)
A) residual line.
B) mandatory coverage.
C) orphan policy.
D) surplus line.
Answer: D
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A firm concludes a counterpurchase agreement with a foreign country for which it receives some counterpurchase credits for purchasing its goods
The firm does not want any foreign goods, however, so it sells the credits to a third-party trading house at a discount. The trading house finds a firm that can use the credits and sells them at a profit. This is an example of: A. barter. B. switch trading. C. an offset. D. a buyback. E. compensation.
The manager is open to suggestions for forecasting models and decides to try both a linear trend model and a simple moving average of two periods
Generate forecasts for the year using these technique and then calculate forecast errors using MAD to determine which is the superior method in this scenario. After tallying the receipts for their first year of operation, the owners of the Taco Barn are encouraged. Sales of their artisnal tacos, made from such exotic ingredients as ground beef, cheese, and beans, have been strong and seem to give hope to the coming year. Taco sales by month are shown in the table. Month Sales January 474 February 485 March 501 April 588 May 579 June 673 July 594 August 679 September 608 October 699 November 732 December 732