Pearson eText for Using & Understanding Mathematics: A Quantitative Reasoning Approach -- Instant Access (Pearson+)
7th Edition
ISBN: 9780137553334
Author: Jeffrey Bennett, William Briggs
Publisher: PEARSON+
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Chapter 12.C, Problem 47E
To determine
How the most recent apportionment (2010) affected on the standard quota in Nevada.
Given:
The house apportionments have been affecting the number of seats of the states in USA for a century. When the population changes the behavior standard quota influence the representative seats of a particular seat.
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Construct a know-show table for each statement below that appears to be true.
Problem 3. Pricing a multi-stock option the Margrabe formula
The purpose of this problem is to price a swap option in a 2-stock model, similarly as
what we did in the example in the lectures. We consider a two-dimensional Brownian
motion given by W₁ = (W(¹), W(2)) on a probability space (Q, F,P). Two stock prices
are modeled by the following equations:
dX
=
dY₁ =
X₁ (rdt+
rdt+0₁dW!)
(²)),
Y₁ (rdt+dW+0zdW!"),
with Xo
xo and Yo =yo. This corresponds to the multi-stock model studied in class,
but with notation (X+, Y₁) instead of (S(1), S(2)). Given the model above, the measure
P is already the risk-neutral measure (Both stocks have rate of return r). We write
σ = 0₁+0%. We consider a swap option, which gives you the right, at time T, to
exchange one share of X for one share of Y. That is, the option has payoff
F=(Yr-XT).
(a) We first assume that r = 0 (for questions (a)-(f)). Write an explicit expression for
the process Xt.
Reminder before proceeding to question (b): Girsanov's theorem…
Problem 1. Multi-stock model
We consider a 2-stock model similar to the one studied in class. Namely, we consider
=
S(1)
S(2)
=
S(¹) exp (σ1B(1) + (M1 - 0/1 )
S(²) exp (02B(2) + (H₂-
M2
where (B(¹) ) +20 and (B(2) ) +≥o are two Brownian motions, with
t≥0
Cov (B(¹), B(2)) = p min{t, s}.
"
The purpose of this problem is to prove that there indeed exists a 2-dimensional Brownian
motion (W+)+20 (W(1), W(2))+20 such that
=
S(1)
S(2)
=
=
S(¹) exp (011W(¹) + (μ₁ - 01/1) t)
롱)
S(²) exp (021W (1) + 022W(2) + (112 - 03/01/12) t).
where σ11, 21, 22 are constants to be determined (as functions of σ1, σ2, p).
Hint: The constants will follow the formulas developed in the lectures.
(a) To show existence of (Ŵ+), first write the expression for both W. (¹) and W (2)
functions of (B(1), B(²)).
as
(b) Using the formulas obtained in (a), show that the process (WA) is actually a 2-
dimensional standard Brownian motion (i.e. show that each component is normal,
with mean 0, variance t, and that their…
Chapter 12 Solutions
Pearson eText for Using & Understanding Mathematics: A Quantitative Reasoning Approach -- Instant Access (Pearson+)
Ch. 12.A - Prob. 1QQCh. 12.A - Prob. 2QQCh. 12.A - Prob. 3QQCh. 12.A - Prob. 4QQCh. 12.A - Prob. 5QQCh. 12.A - Prob. 6QQCh. 12.A - Prob. 7QQCh. 12.A - Prob. 8QQCh. 12.A - 9. Study Table 12.5. Which candidate received the...Ch. 12.A - 10. What is the primary lesson of the preference...
Ch. 12.A - 1. What is majority rule? When can it definitively...Ch. 12.A - Prob. 2ECh. 12.A - What is a filibuster? What percentage of the vote...Ch. 12.A - Prob. 4ECh. 12.A - Prob. 5ECh. 12.A - Prob. 6ECh. 12.A - Prob. 7ECh. 12.A - Prob. 8ECh. 12.A - Prob. 9ECh. 12.A - Prob. 10ECh. 12.A - 11. Herman won a plurality of the vote, but Hanna...Ch. 12.A - Fred beat Fran using the point system (Borda...Ch. 12.A - 13. Candidate Reagan won the popular vote for the...Ch. 12.A - Prob. 14ECh. 12.A - Prob. 15ECh. 12.A - Prob. 16ECh. 12.A - Prob. 17ECh. 12.A - Prob. 18ECh. 12.A - Prob. 19ECh. 12.A - Presidential Elections. The following tables give...Ch. 12.A - Prob. 21ECh. 12.A - Prob. 22ECh. 12.A - Prob. 23ECh. 12.A - Presidential Elections. The following tables give...Ch. 12.A - 23. Super Majorities.
a. Of the 100 senators in...Ch. 12.A - 24. Super Majorities.
a. According to the bylaws...Ch. 12.A - Prob. 27ECh. 12.A - Prob. 28ECh. 12.A - Prob. 29ECh. 12.A - Prob. 30ECh. 12.A - Prob. 31ECh. 12.A - Prob. 32ECh. 12.A - 31—34. Interpreting Preference Schedules. Answer...Ch. 12.A - 31—34. Interpreting Preference Schedules. Answer...Ch. 12.A - 31—34. Interpreting Preference Schedules. Answer...Ch. 12.A - Prob. 36ECh. 12.A - Prob. 37ECh. 12.A - Prob. 38ECh. 12.A - Prob. 39ECh. 12.A - Prob. 40ECh. 12.A - Prob. 41ECh. 12.A - How Close Was 2016? Consider Table 12.3 which...Ch. 12.A - Prob. 43ECh. 12.A - Prob. 44ECh. 12.A - Prob. 45ECh. 12.A - Prob. 46ECh. 12.A - Condorcet Winner. If a candidate wins all...Ch. 12.A - 45. Condorcet Paradox. Consider the following...Ch. 12.A - 46. Pairwise Comparisons Question.
a. How many...Ch. 12.A - Prob. 50ECh. 12.A - Prob. 51ECh. 12.A - Prob. 52ECh. 12.A - Prob. 53ECh. 12.A - Prob. 54ECh. 12.A - Sports Polls. Most men’s and women’s major college...Ch. 12.A - Elections Around the World. Many countries have...Ch. 12.B - l. How many of the four fairness criteria (see p....Ch. 12.B - Prob. 2QQCh. 12.B - Prob. 3QQCh. 12.B - Prob. 4QQCh. 12.B -
5. Suppose that Berman is declared the winner of...Ch. 12.B - 6. Suppose that Freedman is declared the winner of...Ch. 12.B - 7. Notice that if Goldsmith dropped out, Freedman...Ch. 12.B - Prob. 8QQCh. 12.B - Which of the following is not an advantage of...Ch. 12.B - Prob. 10QQCh. 12.B - Briefly summarize each of the four fairness...Ch. 12.B - Prob. 2ECh. 12.B - What is approval voting? How is it different from...Ch. 12.B - Prob. 4ECh. 12.B - Prob. 5ECh. 12.B - Prob. 6ECh. 12.B - Prob. 7ECh. 12.B - Prob. 8ECh. 12.B - Plurality and Criterion 1. Explain in words why...Ch. 12.B - 10. Plurality and Criterion 2. Consider the...Ch. 12.B - 11. Plurality and Criterion 2. Devise a preference...Ch. 12.B - Prob. 12ECh. 12.B - Plurality and Criterion 4. Suppose the plurality...Ch. 12.B - Prob. 14ECh. 12.B - Runoff Methods and Criterion 1. Explain in words...Ch. 12.B - Prob. 16ECh. 12.B - Prob. 17ECh. 12.B - Sequential Runoff and Criterion 2. Devise a...Ch. 12.B - Prob. 19ECh. 12.B - Prob. 20ECh. 12.B - Prob. 21ECh. 12.B - Prob. 22ECh. 12.B - Point System and Criterion 1. Devise your own...Ch. 12.B - 24. Point System and Criterion 2. Suppose the...Ch. 12.B - 25. Point System and Criterion 2. Devise a...Ch. 12.B - Prob. 26ECh. 12.B - Prob. 27ECh. 12.B - Prob. 28ECh. 12.B - Prob. 29ECh. 12.B - Prob. 30ECh. 12.B - Prob. 31ECh. 12.B - Pairwise Comparisons and Criterion 4. Suppose the...Ch. 12.B - Prob. 33ECh. 12.B - Approval Voting. Suppose that Candidates A and B...Ch. 12.B - Prob. 35ECh. 12.B - Power Voting. Imagine that a small company has...Ch. 12.B - 37-41: Electoral Power. Use the table below to...Ch. 12.B - 37-41: Electoral Power. Use the table below to...Ch. 12.B - Prob. 39ECh. 12.B - Prob. 40ECh. 12.B - Prob. 41ECh. 12.B - Prob. 42ECh. 12.B - Prob. 43ECh. 12.B - Prob. 44ECh. 12.B - Prob. 45ECh. 12.B - Prob. 46ECh. 12.B - Prob. 47ECh. 12.B - Prob. 48ECh. 12.B - Prob. 49ECh. 12.B - Prob. 50ECh. 12.B - Prob. 51ECh. 12.B - 52. Swing Votes. Suppose that the following...Ch. 12.B - Prob. 53ECh. 12.B - Other Fairness Criteria. The fairness criteria...Ch. 12.B - Prob. 55ECh. 12.B - Power Voting and Coalitions. Use the Web...Ch. 12.B - General Voting Power. Find the news report about...Ch. 12.B - Prob. 58ECh. 12.C - Prob. 1QQCh. 12.C - Prob. 2QQCh. 12.C - Prob. 3QQCh. 12.C - 4. Suppose that, in 2030, the census shows that...Ch. 12.C - 5. Consider a school district with 50 schools,...Ch. 12.C - 6. Consider the school district described in...Ch. 12.C - Prob. 7QQCh. 12.C - Prob. 8QQCh. 12.C - Prob. 9QQCh. 12.C - Prob. 10QQCh. 12.C - Prob. 1ECh. 12.C - Prob. 2ECh. 12.C - Prob. 3ECh. 12.C - What is the Alabama paradox? What other paradoxes...Ch. 12.C - Prob. 5ECh. 12.C - What is the quota criterion? Why are violations of...Ch. 12.C - 7. Briefly describe how Webster’s method and the...Ch. 12.C - 8. Explain why Webster’s method and the...Ch. 12.C - is the president of a large company with 12...Ch. 12.C - 10. Charlene is the head judge in a figure skating...Ch. 12.C - Prob. 11ECh. 12.C - Prob. 12ECh. 12.C - Prob. 13ECh. 12.C - Prob. 14ECh. 12.C - Prob. 15ECh. 12.C - Prob. 16ECh. 12.C - Prob. 17ECh. 12.C - 15-18: State Representation. The following table...Ch. 12.C - 19. Standard Quotas in Business. A large company...Ch. 12.C - 20. Standard Quota in Education. Capital...Ch. 12.C - Prob. 21ECh. 12.C - Prob. 22ECh. 12.C - Prob. 23ECh. 12.C - Prob. 24ECh. 12.C - Prob. 25ECh. 12.C - Prob. 26ECh. 12.C - Prob. 27ECh. 12.C - Prob. 28ECh. 12.C - Prob. 29ECh. 12.C - Prob. 30ECh. 12.C - 29-32: Jefferson's Method. Apply Jefferson's...Ch. 12.C - Jefferson's Method. Apply Jefferson's method to...Ch. 12.C - 33. Webster’s Method. Use Webster’s method to...Ch. 12.C - 34. Webster’s Method. Use Webster’s method to...Ch. 12.C - Prob. 35ECh. 12.C - Prob. 36ECh. 12.C - Prob. 37ECh. 12.C - Prob. 38ECh. 12.C - Comparing Methods. Assume 100 delegates are to be...Ch. 12.C - Prob. 40ECh. 12.C - Prob. 41ECh. 12.C - 39-42: Comparing Methods. Assume 100 delegates are...Ch. 12.C - 43-46: Non-House Apportionments. The following...Ch. 12.C - 43-46: Non-House Apportionments. The following...Ch. 12.C - 43-46: Non-House Apportionments. The following...Ch. 12.C - Prob. 46ECh. 12.C - Prob. 47ECh. 12.C - Prob. 48ECh. 12.C - Prob. 49ECh. 12.D - Prob. 1QQCh. 12.D - Prob. 2QQCh. 12.D - 3. If we compare results in presidential elections...Ch. 12.D - 4. In 2010, Republicans in North Carolina received...Ch. 12.D - Prob. 5QQCh. 12.D - Prob. 6QQCh. 12.D - Prob. 7QQCh. 12.D - Prob. 8QQCh. 12.D - Prob. 9QQCh. 12.D - Prob. 10QQCh. 12.D - What is redistricting, and when must it be done?Ch. 12.D - 2. How has the competitiveness of elections for...Ch. 12.D - 3. What is gerrymandering? Where does this term...Ch. 12.D - 4. Briefly describe how the drawing of boundaries...Ch. 12.D - What requirements must be met in drawing district...Ch. 12.D - Briefly describe two ideas for reforming the...Ch. 12.D - In the last election in my home state, 48% of the...Ch. 12.D - Prob. 8ECh. 12.D - Polls show that half voters in our state plan to...Ch. 12.D - Prob. 10ECh. 12.D - Prob. 11ECh. 12.D - Prob. 12ECh. 12.D - Redistricting and House Elections. The 2010 census...Ch. 12.D - Prob. 14ECh. 12.D - Redistricting and House Elections. The 2010 census...Ch. 12.D - 13-17: Redistricting and House Elections. The 2010...Ch. 12.D - Redistricting and House Elections. The 2010 census...Ch. 12.D -
18-23: Average and Extreme Districts. Consider...Ch. 12.D - Prob. 19ECh. 12.D - Prob. 20ECh. 12.D - 18—23: Average and Extreme Districts. Consider the...Ch. 12.D - Average and Extreme Districts. Consider the...Ch. 12.D - Prob. 23ECh. 12.D - Prob. 24ECh. 12.D - Prob. 25ECh. 12.D - Prob. 26ECh. 12.D - Prob. 27ECh. 12.D - Prob. 28ECh. 12.D - 28—29: Drawing Districts Set III. Refer to Figure...Ch. 12.D - 30—32: Drawing Districts Set IV. Refer to Figure...Ch. 12.D - 30—32: Drawing Districts Set IV. Refer to Figure...Ch. 12.D - Prob. 32ECh. 12.D - Prob. 33ECh. 12.D - Prob. 34ECh. 12.D - Prob. 35ECh. 12.D - Prob. 36ECh. 12.D - Prob. 37ECh. 12.D - Prob. 38ECh. 12.D - Prob. 39ECh. 12.D - Prob. 40ECh. 12.D - Prob. 41ECh. 12.D - 42. Redistricting Procedures. Choose a state that...Ch. 12.D - 43. Reform Efforts. Investigate the current status...Ch. 12.D - 44. Mathematical Algorithms for Reform. Search for...Ch. 12.D - Prob. 45E
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