If a Maximization Problem Has a Single Global Optimum, Will

question 46

Essay

If a maximization problem has a single global optimum, will it have a local maximum? If yes, can it have more than one local maximum? Explain.

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Definitions:

Maturity

The date on which the principal amount of a financial instrument, such as a bond or loan, is due to be paid in full.

Disbursement Float

The amount of time it takes for money to be withdrawn from one account and cleared in another, affecting the available balance.

Collection Float

The time period between when a check is deposited into a bank account and the time the funds are available and officially credited to the account.

Book Balance

refers to the current balance in a company’s accounting records, not including any pending transactions that have not yet been cleared or settled.