The conservatism constraint requires that, when there is any doubt, one should avoid understating assets and income.
a. true
b. false
b. false
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A(n) ________ marketing system consists of producers, wholesalers, and retailers acting as a unified system
A) horizontal B) vertical C) multitiered D) communal E) equilateral
When the smoothing constant (?) is set to 1, then exponential smoothing is equivalent to ______.
A. naive approach B. weighted moving average C. moving average D. factor rating method
Which of the following is (are) included among the duties of an insured following a loss covered under the Homeowners 3 policy?
I. To file a proof of loss within a specified time period after the insurer's request II. To prepare an inventory of damaged personal property A) I only B) II only C) both I and II D) neither I nor II
ABC, Inc., is a small clothing manufacturer that produces shirts and pants using two resources: sewing machine hours and cutting machine hours. The production manager can schedule up to 240 hours of sewing machine time and up to 150 hour cutting machine time. Production of one shirt requires 3 hours of sewing time and 1 hour of cutting time. Each pair of pants requires 2 hours of sewing time and 1.5 hours of cutting time. Each shirt yields a profit of $5, and each pair of pants generates a $6 profit. The objective is to maximize profits. Determine the nonnegative constraint for the LP formulation. Let X1 = Number of shirts to be produced, X2 = Number of pairs of pants to be produced.
a. X1 and X2 > 0 b. X1 and X2 ? 0 c. X1 and X2 ? 0 d. X1 and X2 = 0