Mathematics All Around (6th Edition)
6th Edition
ISBN: 9780134506470
Author: Pirnot
Publisher: PEARSON
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Chapter 12.3, Problem 32E
To determine
To find:
The number of ways to replace the actor who plays the phantom in Broadway’s longest-running play.
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4. Assume that a risk-free money market account is added to the market described in Q3.
The continuously compounded rate of return on the money market account is log (1.1).
(i) For each given μ, use Lagrange multipliers to determine the proportions (as a
function of μ) of wealth invested in the three assets available for the minimum
variance portfolio with expected return μ.
(ii) Determine the market portfolio in this market and calculate its Sharp ratio.
3. A market consists of two risky assets with rates of return R₁ and R2 and no risk-free
asset. From market data the following have been estimated: ER₁ = 0.25, ER2 = 0.05,
Var R₁ = 0.01, Var R2 = 0.04 and the correlation between R1 and R2 is p = -0.75.
(i) Given that an investor is targeting a total expected return of μ = 0.2. What
portfolio weights should they choose to meet this goal with minimum portfolio
variance? Correct all your calculations up to 4 decimal points.
(ii) Determine the global minimum-variance portfolio and the expected return and
variance of return of this portfolio (4 d.p.).
(iii) Sketch the minimum-variance frontier in the μ-σ² plane and indicate the efficient
frontier.
(iv) Without further calculation, explain how the minimum variance of the investor's
portfolio return will change if the two risky assets were independent.
2. A landlord is about to write a rental contract for a tenant which lasts T months. The
landlord first decides the length T > 0 (need not be an integer) of the contract, the
tenant then signs it and pays an initial handling fee of £100 before moving in. The
landlord collects the total amount of rent erT at the end of the contract at a continuously
compounded rate r> 0, but the contract stipulates that the tenant may leave before T,
in which case the landlord only collects the total rent up until the tenant's departure
time 7. Assume that 7 is exponentially distributed with rate > 0, λ‡r.
(i) Calculate the expected total payment EW the landlord will receive in terms of T.
(ii) Assume that the landlord has logarithmic utility U(w) = log(w - 100) and decides
that the rental rate r should depend on the contract length T by
r(T)
=
λ
√T
1
For each given λ, what T (as a function of X) should the landlord choose so as to
maximise their expected utility? Justify your answer.
Hint. It might be…
Chapter 12 Solutions
Mathematics All Around (6th Edition)
Ch. 12.1 - In Exercises 14, you are selecting from the set...Ch. 12.1 - In Exercises 14, you are selecting from the set...Ch. 12.1 - In Exercises 14, you are selecting from the set...Ch. 12.1 - In Exercises 14, you are selecting from the set...Ch. 12.1 - Prob. 5ECh. 12.1 - Prob. 6ECh. 12.1 - Prob. 7ECh. 12.1 - Prob. 8ECh. 12.1 - How many different two-digit numbers can you form...Ch. 12.1 - How many different two-digit numbers can you form...
Ch. 12.1 - How many different three-digit numbers can you...Ch. 12.1 - How many different three-digit numbers can you...Ch. 12.1 - In Exercises 1318, assume you are rolling two...Ch. 12.1 - In Exercises 1318, assume you are rolling two...Ch. 12.1 - In Exercises 1318, assume you are rolling two...Ch. 12.1 - In Exercises 1318, assume you are rolling two...Ch. 12.1 - In Exercises 1318, assume you are rolling two...Ch. 12.1 - In Exercises 1318, assume you are rolling two...Ch. 12.1 - Recall in Example 6 that you are creating outfits...Ch. 12.1 - Recall in Example 6 that you are creating outfits...Ch. 12.1 - Use the given diagram to solve Exercises 21 and...Ch. 12.1 - Use the given diagram to solve Exercises 21 and...Ch. 12.1 - Answer Exercise 21 assuming the diagram has six...Ch. 12.1 - Prob. 24ECh. 12.1 - Assigning tasks. Stefans friends Amika, Pam, Li,...Ch. 12.1 - Making staff assignments. Suppose that the staff...Ch. 12.1 - Prob. 27ECh. 12.1 - Prob. 28ECh. 12.1 - The role-playing game Dungeons & Dragons uses a...Ch. 12.1 - Dungeons & Dragons also uses 12-sided dice. How...Ch. 12.1 - Counting license plates. An eyewitness to a crime...Ch. 12.1 - Counting license plates. In a small state, the...Ch. 12.1 - For Exercises 33 and 34, use the figures below....Ch. 12.1 - For Exercises 33 and 34, use the figures below....Ch. 12.1 - Prince William and Duchess Kate are attending the...Ch. 12.1 - Prince William and Duchess Kate are attending the...Ch. 12.1 - Prob. 37ECh. 12.1 - Prob. 38ECh. 12.1 - Stacking cans. In preparation for Thanksgiving...Ch. 12.1 - Prob. 40ECh. 12.1 - In Exercises 4144, you are buying a triple-deck...Ch. 12.1 - In Exercises 4144, you are buying a triple-deck...Ch. 12.1 - In Exercises 4144, you are buying a triple-deck...Ch. 12.1 - In Exercises 4144, you are buying a triple-deck...Ch. 12.1 - Prob. 45ECh. 12.1 - Prob. 46ECh. 12.1 - Prob. 47ECh. 12.1 - Prob. 49ECh. 12.1 - Prob. 50ECh. 12.1 - Prob. 51ECh. 12.1 - Prob. 52ECh. 12.1 - Prob. 53ECh. 12.1 - Prob. 54ECh. 12.1 - Prob. 55ECh. 12.1 - Prob. 56ECh. 12.1 - Prob. 57ECh. 12.1 - Prob. 58ECh. 12.1 - Prob. 59ECh. 12.2 - Assigning responsibilities. The board of an...Ch. 12.2 - Assigning positions. If there are 12 members on...Ch. 12.2 - Assigning officers. The Equestrian Club has eight...Ch. 12.2 - Assigning officers. If the Chamber of Commerce has...Ch. 12.2 - Choosing a stand up paddle board package. Kevin...Ch. 12.2 - Counting schedules. Jorge is using his educational...Ch. 12.2 - Counting meal possibilities. The early bird...Ch. 12.2 - Prob. 8ECh. 12.2 - In games such as Dungeons 12, determine the number...Ch. 12.2 - In games such as Dungeons 12, determine the number...Ch. 12.2 - In games such as Dungeons 12, determine the number...Ch. 12.2 - In games such as Dungeons 12, determine the number...Ch. 12.2 - In Exercises 1316, using the digits 0,1,2,...,8,9,...Ch. 12.2 - In Exercises 1316, using the digits 0,1,2,...,8,9,...Ch. 12.2 - In Exercises 1316, using the digits 0,1,2,...,8,9,...Ch. 12.2 - Prob. 16ECh. 12.2 - A truefalse quiz. In how many ways can you choose...Ch. 12.2 - A multiple-choice test. In how many ways can you...Ch. 12.2 - Planning a trip. Center City Community Colleges...Ch. 12.2 - A piano competition. In the Van Cliburn piano...Ch. 12.2 - Enumerating call letters. Radio stations in the...Ch. 12.2 - Prob. 22ECh. 12.2 - Prob. 23ECh. 12.2 - Counting license plates. In a certain state,...Ch. 12.2 - A pin tumbler lock has a series of pins, each of...Ch. 12.2 - A pin tumbler lock has a series of pins, each of...Ch. 12.2 - Counting routes for an armored van. A Wells Fargo...Ch. 12.2 - Prob. 28ECh. 12.2 - Prob. 29ECh. 12.2 - Facial arrangements. A website enables you to...Ch. 12.2 - Prob. 31ECh. 12.2 - Prob. 32ECh. 12.2 - Exercises 33 and 34 are alternative versions of...Ch. 12.2 - Prob. 34ECh. 12.2 - Prob. 35ECh. 12.2 - Assume that we wish to seat three men and three...Ch. 12.2 - Assume that we wish to seat three men and three...Ch. 12.2 - Assume that we wish to seat three men and three...Ch. 12.2 - In solving counting problems, it is often useful...Ch. 12.2 - What is the relationship between trees, slot...Ch. 12.2 - Prob. 41ECh. 12.2 - Prob. 42ECh. 12.2 - Prob. 43ECh. 12.2 - Prob. 44ECh. 12.2 - Prob. 45ECh. 12.2 - Prob. 46ECh. 12.2 - Prob. 47ECh. 12.2 - Prob. 48ECh. 12.2 - Prob. 49ECh. 12.3 - In Exercises 112, calculate each value. 4!Ch. 12.3 - Prob. 2ECh. 12.3 - In Exercises 112, calculate each value. (85)!Ch. 12.3 - In Exercises 112, calculate each value. (105)!Ch. 12.3 - In Exercises 112, calculate each value. 107Ch. 12.3 - In Exercises 112, calculate each value. 119Ch. 12.3 - Prob. 7ECh. 12.3 - In Exercises 112, calculate each value. 1192Ch. 12.3 - In Exercises 112, calculate each value. P(6,2)Ch. 12.3 - In Exercises 112, calculate each value. P(5,3)Ch. 12.3 - In Exercises 112, calculate each value. C(10,3)Ch. 12.3 - In Exercises 112, calculate each value. C(4,4)Ch. 12.3 - Prob. 13ECh. 12.3 - Prob. 14ECh. 12.3 - In Exercises 1518 find the number of permutations....Ch. 12.3 - In Exercises 1518 find the number of permutations....Ch. 12.3 - In Exercises 1518 find the number of permutations....Ch. 12.3 - In Exercises 1518 find the number of permutations....Ch. 12.3 - In Exercises 1922, find the number of...Ch. 12.3 - Prob. 20ECh. 12.3 - In Exercises 1922, find the number of...Ch. 12.3 - Prob. 22ECh. 12.3 - Find the eighth row in Pascals triangle.Ch. 12.3 - Find the tenth row in Pascals triangle.Ch. 12.3 - Use the seventh row of Pascals triangle to answer...Ch. 12.3 - Prob. 26ECh. 12.3 - Prob. 27ECh. 12.3 - In Exercises 2730, describe where each number is...Ch. 12.3 - Prob. 29ECh. 12.3 - In Exercises 2730, describe where each number is...Ch. 12.3 - In Exercises 3144, specify the number of ways to...Ch. 12.3 - Prob. 32ECh. 12.3 - In Exercises 3144, specify the number of ways to...Ch. 12.3 - Prob. 34ECh. 12.3 - In Exercises 3144, specify the number of ways to...Ch. 12.3 - Prob. 36ECh. 12.3 - Prob. 37ECh. 12.3 - Prob. 38ECh. 12.3 - In Exercises 3144, specify the number of ways to...Ch. 12.3 - In Exercises 3144, specify the number of ways to...Ch. 12.3 - In Exercises 3144, specify the number of ways to...Ch. 12.3 - Prob. 42ECh. 12.3 - In Exercises 3144, specify the number of ways to...Ch. 12.3 - In Exercises 3144, specify the number of ways to...Ch. 12.3 - In Exercises 4548, determine the number of ways to...Ch. 12.3 - Prob. 46ECh. 12.3 - Prob. 47ECh. 12.3 - Prob. 48ECh. 12.3 - In Exercise 49 and 50, determine why the given...Ch. 12.3 - Prob. 50ECh. 12.3 - Prob. 51ECh. 12.3 - A typical bingo card is shown in the figure. The...Ch. 12.3 - Prob. 53ECh. 12.3 - A typical bingo card is shown in the figure. The...Ch. 12.3 - In Exercise 5568, use the fundamental counting...Ch. 12.3 - In Exercise 5568, use the fundamental counting...Ch. 12.3 - In Exercise 5568, use the fundamental counting...Ch. 12.3 - Prob. 58ECh. 12.3 - Prob. 59ECh. 12.3 - Prob. 60ECh. 12.3 - In Exercise 5568, use the fundamental counting...Ch. 12.3 - Prob. 62ECh. 12.3 - Prob. 63ECh. 12.3 - Prob. 64ECh. 12.3 - In Exercise 5568, use the fundamental counting...Ch. 12.3 - Prob. 66ECh. 12.3 - Prob. 67ECh. 12.3 - Prob. 68ECh. 12.3 - Prob. 69ECh. 12.3 - Prob. 70ECh. 12.3 - Prob. 71ECh. 12.3 - Prob. 72ECh. 12.3 - Prob. 73ECh. 12.3 - Prob. 74ECh. 12.3 - Prob. 75ECh. 12.3 - Prob. 76ECh. 12.3 - Prob. 77ECh. 12.3 - Prob. 78ECh. 12.3 - Prob. 79ECh. 12.3 - Prob. 80ECh. 12.3 - Prob. 81ECh. 12.3 - Prob. 82ECh. 12.3 - Prob. 83ECh. 12.3 - Prob. 84ECh. 12.3 - Prob. 85ECh. 12.3 - Prob. 86ECh. 12.3 - Prob. 87ECh. 12.3 - Prob. 88ECh. 12.3 - Prob. 89ECh. 12.4 - Exercises 16 are based on the slot machine shown...Ch. 12.4 - Exercises 16 are based on the slot machine shown...Ch. 12.4 - Exercises 16 are based on the slot machine shown...Ch. 12.4 - Exercises 16 are based on the slot machine shown...Ch. 12.4 - Prob. 5ECh. 12.4 - Exercises 16 are based on the slot machine shown...Ch. 12.4 - Exercises 712 deal with the poker hands described...Ch. 12.4 - Exercises 712 deal with the poker hands described...Ch. 12.4 - Prob. 9ECh. 12.4 - Exercises 712 deal with the poker hands described...Ch. 12.4 - Exercises 712 deal with the poker hands described...Ch. 12.4 - Exercises 712 deal with the poker hands described...Ch. 12.4 - Prob. 13ECh. 12.4 - Why are we using combinations rather than...Ch. 12.4 - Prob. 15ECh. 12.4 - Prob. 16ECh. 12.4 - Playing poker. How many poker hands are less in...Ch. 12.CR - Prob. 1CRCh. 12.CR - The game Dungeons & Dragons uses a tetrahedral die...Ch. 12.CR - Prob. 3CRCh. 12.CR - Prob. 4CRCh. 12.CR - Prob. 5CRCh. 12.CR - Prob. 6CRCh. 12.CR - Prob. 7CRCh. 12.CR - Prob. 8CRCh. 12.CR - Prob. 9CRCh. 12.CR - Prob. 10CRCh. 12.CR - You are going to serve gourmet cupcakes at your...Ch. 12.CR - Prob. 12CRCh. 12.CR - Prob. 13CRCh. 12.CR - Prob. 14CRCh. 12.CR - Prob. 15CRCh. 12.CR - Prob. 16CRCh. 12.CR - Prob. 17CRCh. 12.CT - List all the ways you can select two different...Ch. 12.CT - Prob. 2CTCh. 12.CT - Prob. 3CTCh. 12.CT - Use the sixth row of Pascals triangle to find the...Ch. 12.CT - Prob. 5CTCh. 12.CT - Prob. 6CTCh. 12.CT - Prob. 7CTCh. 12.CT - Prob. 8CTCh. 12.CT - Prob. 9CTCh. 12.CT - Prob. 10CTCh. 12.CT - Prob. 11CTCh. 12.CT - Prob. 12CTCh. 12.CT - Write an equation that relates the expressions...Ch. 12.CT - Prob. 14CTCh. 12.CT - Prob. 15CTCh. 12.CT - Prob. 16CT
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- Please solving problem2 Problem1 We consider a two-period binomial model with the following properties: each period lastsone (1) year and the current stock price is S0 = 4. On each period, the stock price doubleswhen it moves up and is reduced by half when it moves down. The annual interest rateon the money market is 25%. (This model is the same as in Prob. 1 of HW#2).We consider four options on this market: A European call option with maturity T = 2 years and strike price K = 5; A European put option with maturity T = 2 years and strike price K = 5; An American call option with maturity T = 2 years and strike price K = 5; An American put option with maturity T = 2 years and strike price K = 5.(a) Find the price at time 0 of both European options.(b) Find the price at time 0 of both American options. Compare your results with (a)and comment.(c) For each of the American options, describe the optimal exercising strategy.arrow_forwardPlease ensure that all parts of the question are answered thoroughly and clearly. Include a diagram to help explain answers. Make sure the explanation is easy to follow. Would appreciate work done written on paper. Thank you.arrow_forwardThis question builds on an earlier problem. The randomized numbers may have changed, but have your work for the previous problem available to help with this one. A 4-centimeter rod is attached at one end to a point A rotating counterclockwise on a wheel of radius 2 cm. The other end B is free to move back and forth along a horizontal bar that goes through the center of the wheel. At time t=0 the rod is situated as in the diagram at the left below. The wheel rotates counterclockwise at 1.5 rev/sec. At some point, the rod will be tangent to the circle as shown in the third picture. A B A B at some instant, the piston will be tangent to the circle (a) Express the x and y coordinates of point A as functions of t: x= 2 cos(3πt) and y= 2 sin(3t) (b) Write a formula for the slope of the tangent line to the circle at the point A at time t seconds: -cot(3πt) sin(3лt) (c) Express the x-coordinate of the right end of the rod at point B as a function of t: 2 cos(3πt) +411- 4 -2 sin (3лt) (d)…arrow_forward
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