2. For the following discrete variable with probability f(x)2345f(x)0.20.152c0.050.15(a) Determine the value of c(b) Determine P(X > 1) and P(X<3)(c) By using CDF Determine P(1.1< X <3.5) and P(X > 3)

Answered: 2. For the following discrete variable…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Consider the following simple linear regression. iid Y = Po + B₁X + e, e~ N(0,02), i=1,...,n.
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state s probability P(s) realization X(s) realization Y(s) 1 .1 10 20 2 .2 20 30 3 .2 10 10 4 .3 10 30 5 .1 20 10 6 .1 30 20 What is E(Y|X = 20)? a) 65/3 b) 70/3 c) 25 d) 80/3
The Arrow-Pratt measures of absolute and relative risk aversion respectively describe the willingness of a consumers to risk a fixed amount of wealth or a fixed fraction of their wealth. This problem will demonstrate this by setting up a simple investment problem. Suppose that consumers begin with initial wealth Wo and may buy shares of a risky asset whose payoff per share is given by 2. (1 w/ prob. P, X = 1-1 w/ prob.1– p. Therefore buying { shares of the risky asset yields final wealth W = Wo +X. Suppose that each consumer may buy an unlimited number of shares, and seeks to maximize expected utility of final wealth max E[u(W)]. (a) Expand the consumer's expected utility maximization problem, and find the first order condition. (b) Let Cara be a consumer whose utility function exhibits constant absolute risk aver- sion UA(W) = 1– e-aW Find Cara's optimal number of shares and show that it does not depend on her starting wealth Wo-
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2. For the following discrete variable with probability f(x) X 2 3 4 f(x) 0.2 0.15 2c 0.05 0.1 (a) Determine the value of c