The Basic Practice of Statistics
The Basic Practice of Statistics
8th Edition
ISBN: 9781319057916
Author: Moore
Publisher: MAC HIGHER
Question
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Chapter 15, Problem 15.16CYS
To determine

To identify: Whether the boldface number is a sampling distribution or statistic or parameter.

Expert Solution & Answer
Check Mark

Answer to Problem 15.16CYS

The correct option is (b) statistic.

Explanation of Solution

Given info:

The data shows that the percentage of people interviewed were employed is 4.9% and the sample number of households is 60,000.

Reason for correct answer:

Here, the percentage 4.9% is obtained by using the sample of 60,000 households and explains the characteristic of the sample.

Thus, the boldface number is a statistic.

The correct option is (b) statistic.

Reason for incorrect answers:

Since, the percentage 4.9% is obtained by using the sample the options (a) sampling distribution and (c) parameter are incorrect.

Conclusion:

Thus, the boldface number is statistic.

Statistics Concept Introduction

Introduction:

Sampling distribution:

It is the distribution of observations obtained by using the statistic of all the possible samples taken from the population. Here, the size of the all possible samples is same.

Parameter:

A parameter is a value that explains the characteristic of the population. In general, the parameter is estimated by using the sample, because it is difficult to examine the total population.

Statistic:

A statistic is a value that explains the characteristic of the sample. It can be obtained by using the sample of observations.

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This problem is based on the fundamental option pricing formula for the continuous-time model developed in class, namely the value at time 0 of an option with maturity T and payoff F is given by: We consider the two options below: Fo= -rT = e Eq[F]. 1 A. An option with which you must buy a share of stock at expiration T = 1 for strike price K = So. B. An option with which you must buy a share of stock at expiration T = 1 for strike price K given by T K = T St dt. (Note that both options can have negative payoffs.) We use the continuous-time Black- Scholes model to price these options. Assume that the interest rate on the money market is r. (a) Using the fundamental option pricing formula, find the price of option A. (Hint: use the martingale properties developed in the lectures for the stock price process in order to calculate the expectations.) (b) Using the fundamental option pricing formula, find the price of option B. (c) Assuming the interest rate is very small (r ~0), use Taylor…
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