a. Explanation Given: Turtlestan is a small country with a population of 8,000,000 that consists of four states A, B, C, and D. There are 160 seats in the legislature that need to be apportioned among the four states. The population of each states shown in the table below. States A B C D Total Population 1345000 2855000 982000 2818000 8000000 Formula used: The modified quota when determining the apportionment is given by the formula: Modified quota = population for the particular group modified divisor . Calculation: The modified divisor of the apportioned is 49,250. Use the formula of the modified quota the modified quota of the state A, Modified quota of state A = 1345000 49250 = 134500 4925 = 27.31 Thus, the modified quota of the state A is 27.31. Similarly the modified quota of the state B, Modified quota of state B = 2855000 49250 = 285500 4925 = 57 (b) To determine The each state apportionment using the Jefferson`s method, Turtlestan is a small country with a population of 8,000,000 that consists of four states A, B, C, and D. There are 160 seats in the legislature that need to be apportioned among the four states. The population of each states shown in the table below. States A B C D Total Population 1345000 2855000 982000 2818000 8000000

A Survey of Mathematics with Applications (10th Edition) - Standalone book

10th Edition

ISBN: 9780134112107

Author: Allen R. Angel, Christine D. Abbott, Dennis Runde

Publisher: PEARSON

See similar textbooks

Concept explainers

Inverse Normal Distribution

The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of tw…

Mean, Median, Mode

It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency o…

Z-Scores

A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow compar…

Videos

Question

Chapter 14.3, Problem 14E

To determine

The modified quota of each states using the divisor 49,250.

(b)

To determine

The each state apportionment using the Jefferson`s method, Turtlestan is a small country with a population of 8,000,000 that consists of four states A, B, C, and D. There are 160 seats in the legislature that need to be apportioned among the four states. The population of each states shown in the table below.

States A B C D Total
Population 1345000 2855000 982000 2818000 8000000

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 14.3, Problem 13E

Chapter 14.3, Problem 15E

Students have asked these similar questions

In this problem, we consider a Brownian motion (W+) t≥0. We consider a stock model (St)t>0 given (under the measure P) by d.St 0.03 St dt + 0.2 St dwt, with So 2. We assume that the interest rate is r = 0.06. The purpose of this problem is to price an option on this stock (which we name cubic put). This option is European-type, with maturity 3 months (i.e. T = 0.25 years), and payoff given by F = (8-5)+ (a) Write the Stochastic Differential Equation satisfied by (St) under the risk-neutral measure Q. (You don't need to prove it, simply give the answer.) (b) Give the price of a regular European put on (St) with maturity 3 months and strike K = 2. (c) Let X = S. Find the Stochastic Differential Equation satisfied by the process (Xt) under the measure Q. (d) Find an explicit expression for X₁ = S3 under measure Q. (e) Using the results above, find the price of the cubic put option mentioned above. (f) Is the price in (e) the same as in question (b)? (Explain why.)

Problem 4. Margrabe formula and the Greeks (20 pts) In the homework, we determined the Margrabe formula for the price of an option allowing you to swap an x-stock for a y-stock at time T. For stocks with initial values xo, yo, common volatility σ and correlation p, the formula was given by Fo=yo (d+)-x0Þ(d_), where In (±² Ꭲ d+ õ√T and σ = σ√√√2(1 - p). дго (a) We want to determine a "Greek" for ỡ on the option: find a formula for θα (b) Is дго θα positive or negative? (c) We consider a situation in which the correlation p between the two stocks increases: what can you say about the price Fo? (d) Assume that yo< xo and p = 1. What is the price of the option?

The Course Name Real Analysis please Solve questions by Real Analysis

Chapter 14 Solutions

A Survey of Mathematics with Applications (10th Edition) - Standalone book

Ch. 14.1 - In Exercise 1-8, fill in the blank with an...Ch. 14.1 - In Exercise 1-8, fill in the blank with an...Ch. 14.1 - In Exercise 1-8, fill in the blank with an...Ch. 14.1 - In Exercise 1-8, fill in the blank with an...Ch. 14.1 - Prob. 5E Ch. 14.1 - In Exercise 1-8, fill in the blank with an...Ch. 14.1 - Prob. 7E Ch. 14.1 - Prob. 8E Ch. 14.1 - Plurality Three candidates are running for mayor...Ch. 14.1 - Prob. 10E

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.

The modified quota of each states using the divisor 49,250.

Solution Summary: The author explains the modified quota of each state using the divisor 49,250.

Concept explainers

Videos

The modified quota of each states using the divisor 49,250.

Want to see the full answer?

Chapter 14 Solutions