Which of the following statements is/are CORRECT in the context of hazardous waste management and its risk assessment?
- Risk is estimated based on the probability of an action occurring multiplied by the severity of damage.
- High octanol water constant ($K_{O W}$) is indicative of lower accumulation of an organic chemical in body tissue.
- Pump and treat is an example of contaminated groundwater remediation.
- Biological treatment processes are never applied for hazardous waste management.
