The following exercises are intended to derive the fundamental properties of the natural log starting from the definition In ( x ) = ∫ 1 x d t t , using properties of the definite integral and making no further assumptions. 385. Use the identity In x = ∫ 1 x d t x to show that In(x) is an increasing function of x on [ 0 , ∞ ) , and use the previous exercises to show that the range of In(x) is ( − ∞ , ∞ ) . Without any further assumptions, conclude that In(x) has an inverse function defined on ( − ∞ , ∞ ) .
The following exercises are intended to derive the fundamental properties of the natural log starting from the definition In ( x ) = ∫ 1 x d t t , using properties of the definite integral and making no further assumptions. 385. Use the identity In x = ∫ 1 x d t x to show that In(x) is an increasing function of x on [ 0 , ∞ ) , and use the previous exercises to show that the range of In(x) is ( − ∞ , ∞ ) . Without any further assumptions, conclude that In(x) has an inverse function defined on ( − ∞ , ∞ ) .
The following exercises are intended to derive the fundamental properties of the natural log starting from the definition
In
(
x
)
=
∫
1
x
d
t
t
, using properties of the definite integral and making no further assumptions.
385. Use the identity
In
x
=
∫
1
x
d
t
x
to show that In(x) is an increasing function of x on
[
0
,
∞
)
, and use the previous exercises to show that the range of In(x) is
(
−
∞
,
∞
)
. Without any further assumptions, conclude that In(x) has an inverse function defined on
(
−
∞
,
∞
)
.
With differentiation, one of the major concepts of calculus. Integration involves the calculation of an integral, which is useful to find many quantities such as areas, volumes, and displacement.
Starting with the finished version of Example 6.2, attached, change the decision criterion to "maximize expected utility," using an exponential utility function with risk tolerance $5,000,000. Display certainty equivalents on the tree.
a. Keep doubling the risk tolerance until the company's best strategy is the same as with the EMV criterion—continue with development and then market if successful.
The risk tolerance must reach $ ____________ before the risk averse company acts the same as the EMV-maximizing company.
b. With a risk tolerance of $320,000,000, the company views the optimal strategy as equivalent to receiving a sure $____________ , even though the EMV from the original strategy (with no risk tolerance) is $ ___________ .
Elementary Statistics: Picturing the World (7th Edition)
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Fundamental Theorem of Calculus 1 | Geometric Idea + Chain Rule Example; Author: Dr. Trefor Bazett;https://www.youtube.com/watch?v=hAfpl8jLFOs;License: Standard YouTube License, CC-BY