The Two Fundamental Approaches to Constrained Allocation Problems Are __________

question 44

Multiple Choice

The two fundamental approaches to constrained allocation problems are __________.

• A)heuristic approaches and rules of thumb
• B)linear programming approaches and optimization models
• C)heuristic approaches and optimization models
• D)goal programming and trial and error

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Definitions:

Interest Earned

The amount of money gained as interest from savings, investments, or loans, over a specific period.

Account

A record or statement showing the financial transactions and status of an individual or entity with a financial institution.

Days

Units of time equal to 24 hours, used as a measurement of the duration of events or the interval between them.

Term Deposit

A bank deposit with a fixed term and usually a higher interest rate than a savings account, requiring funds to remain deposited for a specific period.