Numerical Methods
4th Edition
ISBN: 9780495114765
Author: J. Douglas Faires, BURDEN
Publisher: Cengage Learning
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Chapter 1.3, Problem 5E
To determine
Calculate the given computations for 4-digit rounding.
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2. Sam and Deb have a weekly net income of $1500. They have a pet dog. Their monthly
expenses, not related to housing, are $2875. They have savings of $32 000.
They are considering two housing options:
Option 1: Renting a 2-bedroom condo for $1650 a month, plus utilities averaging $210 a
month
Option 2: Buying a 2-bedroom condo for a down payment of $24 500, bi-weekly mortgage
payments of $1100, and a monthly condo fee of $475
a)
Determine the monthly cost of each housing option. Factoring in other expenses not related
to housing, which one can Sam and Deb afford?
b) Suppose their dog falls ill and they have to pay $85 every week to cover veterinarian and
medical expenses. Calculate the additional monthly expenses. How much money would be
available for savings if they choose housing option 2?
I bought sparrows at 3 for a penny, turtle doves at 2 for a penny, anddoves at 2 pence each. If I spent 30 pence buying 30 birds and boughtat least one of each kind of bird, how many birds of each kind did I buy?(This is a problem from Fibonacci’s Liber Abaci, 1202.)
Chapter 1 Solutions
Numerical Methods
Ch. 1.2 - Prob. 1ECh. 1.2 - Find intervals containing solutions to the...Ch. 1.2 - Prob. 3ECh. 1.2 - Find maxaxbf(x) for the following functions and...Ch. 1.2 - Let f(x)=x3. Find the second Taylor polynomial...Ch. 1.2 - Prob. 6ECh. 1.2 - Find the second Taylor polynomial P2(x) for the...Ch. 1.2 - Prob. 8ECh. 1.2 - Prob. 9ECh. 1.2 - Use a Taylor polynomial about /4 to approximate...
Ch. 1.2 - Prob. 11ECh. 1.2 - Prob. 12ECh. 1.2 - Prob. 13ECh. 1.2 - The nth Taylor polynomial for a function f at x0...Ch. 1.2 - Prob. 15ECh. 1.2 - Prob. 16ECh. 1.3 - Compute the absolute error and relative error in...Ch. 1.3 - Prob. 2ECh. 1.3 - Use three-digit rounding arithmetic to perform the...Ch. 1.3 - Prob. 4ECh. 1.3 - Prob. 5ECh. 1.3 - Prob. 6ECh. 1.3 - Prob. 7ECh. 1.3 - Prob. 8ECh. 1.3 - Prob. 9ECh. 1.3 - Prob. 10ECh. 1.3 - Prob. 11ECh. 1.3 - Prob. 12ECh. 1.3 - Prob. 13ECh. 1.4 - Prob. 1ECh. 1.4 - Prob. 2ECh. 1.4 - Prob. 3ECh. 1.4 - Prob. 4ECh. 1.4 - Prob. 5ECh. 1.4 - Prob. 6ECh. 1.4 - Use three-digit chopping arithmetic to compute the...Ch. 1.4 - Prob. 8ECh. 1.4 - Prob. 9ECh. 1.4 - Prob. 10ECh. 1.4 - Prob. 11ECh. 1.4 - Prob. 12ECh. 1.4 - Prob. 13E
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- 2. Jacob is going to college. He has a part-time job with take-home pay of $575 every two weeks. He has received a scholarship for $5500 for the year. Determine Jacob's total monthly income.arrow_forward1. Pira's expenses are $850 a month for rent and utilities, $52 a month for TV and Internet package, $90 a week for food, $110 a month for a bus pass, $25 a week for entertainment, and $85 every two weeks for miscellaneous expenses. a) Convert each expense to a monthly amount and represent each monthly amount as a percentage. b) Create a circle graph that shows the breakdown of the monthly expenses. c) Pira has an income of $1600/biweekly and is deciding whether a weeklong vacation to Florida would be within her budget. The cost of the trip is approximately $2000 per week. Would you recommend for her to take the one weeklong vacation? Explain.arrow_forward4. Mason works at a part-time job earning $985 every two weeks. Mason's expenses are $750 a month for rent and utilities, $75 a month for her cell phone, $350 a month for food, $35 a week for entertainment, $310 a month for her car loan payment, and $65 every two weeks for miscellaneous expenses. How long will it take Mason to save $2000 for a vacation? Round your answer to the nearest month.arrow_forward
- 3. Abdul works full-time in a bookstore. He earns a take-home salary of $580 a week. His expenses are $850 a month for rent and utilities, $65 a month for his cell phone, $95 a week for groceries, and $75 every two weeks for miscellaneous expenses. How much can Abdul save each month?arrow_forwardThe class will include a data exercise where students will be introduced to publicly available data sources. Students will gain experience in manipulating data from the web and applying it to understanding the economic and demographic conditions of regions in the U.S. Regions and topics of focus will be determined (by the student with instructor approval) prior to April. What data exercise can I do to fulfill this requirement? Please explain.arrow_forwardConsider the ceocomp dataset of compensation information for the CEO’s of 100 U.S. companies. We wish to fit aregression model to assess the relationship between CEO compensation in thousands of dollars (includes salary andbonus, but not stock gains) and the following variates:AGE: The CEOs age, in yearsEDUCATN: The CEO’s education level (1 = no college degree; 2 = college/undergrad. degree; 3 = grad. degree)BACKGRD: Background type(1= banking/financial; 2 = sales/marketing; 3 = technical; 4 = legal; 5 = other)TENURE: Number of years employed by the firmEXPER: Number of years as the firm CEOSALES: Sales revenues, in millions of dollarsVAL: Market value of the CEO's stock, in natural logarithm unitsPCNTOWN: Percentage of firm's market value owned by the CEOPROF: Profits of the firm, before taxes, in millions of dollars1) Create a scatterplot matrix for this dataset. Briefly comment on the observed relationships between compensationand the other variates.Note that companies with negative…arrow_forward
- 6 (Model Selection, Estimation and Prediction of GARCH) Consider the daily returns rt of General Electric Company stock (ticker: "GE") from "2021-01-01" to "2024-03-31", comprising a total of 813 daily returns. Using the "fGarch" package of R, outputs of fitting three GARCH models to the returns are given at the end of this question. Model 1 ARCH (1) with standard normal innovations; Model 2 Model 3 GARCH (1, 1) with Student-t innovations; GARCH (2, 2) with Student-t innovations; Based on the outputs, answer the following questions. (a) What can be inferred from the Standardized Residual Tests conducted on Model 1? (b) Which model do you recommend for prediction between Model 2 and Model 3? Why? (c) Write down the fitted model for the model that you recommended in Part (b). (d) Using the model recommended in Part (b), predict the conditional volatility in the next trading day, specifically trading day 814.arrow_forward4 (MLE of ARCH) Suppose rt follows ARCH(2) with E(rt) = 0, rt = ut, ut = στει, σε where {+} is a sequence of independent and identically distributed (iid) standard normal random variables. With observations r₁,...,, write down the log-likelihood function for the model esti- mation.arrow_forward5 (Moments of GARCH) For the GARCH(2,2) model rt = 0.2+0.25u1+0.05u-2 +0.30% / -1 +0.20% -2, find cov(rt). 0.0035 ut, ut = στει,στ =arrow_forward
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