Excursions In Modern Mathematics, 9th Edition
9th Edition
ISBN: 9780134494142
Author: Tannenbaum
Publisher: PEARSON
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Chapter 16, Problem 53E
To determine
To find:
The Paul's score in the course, expressed as a percent.
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Chapter 16 Solutions
Excursions In Modern Mathematics, 9th Edition
Ch. 16 - Using set notation, write out the sample space for...Ch. 16 - Using set notation, write out the sample space for...Ch. 16 - Using set notation, write out the sample space for...Ch. 16 - Using set notation, write out the sample space for...Ch. 16 - The board of directors of Fibber Corporation has...Ch. 16 - You reach into a large jar containing jelly beans...Ch. 16 - In Exerxises 7 through 10, the sample spaces are...Ch. 16 - In Exerxises 7 through 10, the sample spaces are...Ch. 16 - Prob. 9ECh. 16 - In Exerxises 7 through 10, the sample spaces are...
Ch. 16 - A coin is tossed three times in a row The...Ch. 16 - A student randomly guesses the answers to a...Ch. 16 - A pair of dice is rolled. The observation is the...Ch. 16 - A card is drawn out of a standard deck of 52...Ch. 16 - A coin is tossed 10 times in a row. The...Ch. 16 - Five candidates (A,B,C,D,andE) have a chance to be...Ch. 16 - A California license plate starts with a digit...Ch. 16 - A computer password consists of four letters A...Ch. 16 - Jack packs two pairs of shoes, one pair of boots,...Ch. 16 - A French restaurant offers a menu consisting of...Ch. 16 - A set of reference books consists of eight volumes...Ch. 16 - Nine people four men and five women line up at a...Ch. 16 - 7. Nine people four men and five women line up at...Ch. 16 - Prob. 24ECh. 16 - Determine the number of outcomes N in each sample...Ch. 16 - Determine the number of outcomes N in each sample...Ch. 16 - In Exercises 27 through 30, you are asked to give...Ch. 16 - In Exercises 27 through 30, you are asked to give...Ch. 16 - In Exercises 27 through 30, you are asked to give...Ch. 16 - In Exercises 27 through 30, you are asked to give...Ch. 16 - A major league baseball team roster consists of 40...Ch. 16 - Bob has 20 different dress shirts in his wardrobe....Ch. 16 - Consider the sample space S={o1,o2,o3,o4,o5}....Ch. 16 - Consider the sample space S={o1,o2,o3,o4}. Suppose...Ch. 16 - Four candidates are running for mayor of...Ch. 16 - Seven horses A, B, C, D, E, F, and G are running...Ch. 16 - An honest coin is tossed three times in a row....Ch. 16 - A student randomly guesses the answers to a...Ch. 16 - A pair of honest dice is rolled. Find the...Ch. 16 - A card is drawn at random out of a well-shuffled...Ch. 16 - An honest coin is tossed 10 times in a row. Find...Ch. 16 - Five candidates A, B, C, D, and E have a chance to...Ch. 16 - A student takes a 10-question true-or-false quiz...Ch. 16 - Suppose that the probability of giving birth to a...Ch. 16 - The Tasmania State University glee club has 15...Ch. 16 - Ten professional basketball teams are...Ch. 16 - An honest coin is tossed 10 times in a row. The...Ch. 16 - Imagine a game in which you roll an honest die...Ch. 16 - Find the odds of each of the following events. a....Ch. 16 - Find the odds of each of the following events. a....Ch. 16 - In each case, find the probability of an event E...Ch. 16 - In each case, find the probability of an event E...Ch. 16 - Prob. 53ECh. 16 - Table 16-19 shows the aggregate scores of a golf...Ch. 16 - At Thomas Jefferson High School, the student body...Ch. 16 - In 2005 the Middletown Zoo averaged 4000 visitors...Ch. 16 - Prob. 57ECh. 16 - A basketball player shoots two consecutive free...Ch. 16 - Prob. 59ECh. 16 - A pair of honest dice is rolled once. Find the...Ch. 16 - Suppose that you roll a pair of honest dice. If...Ch. 16 - On an American roulette wheel, there are 18 red...Ch. 16 - On an American roulette wheel, there are 38...Ch. 16 - Suppose that you roll a single die. If an odd...Ch. 16 - Prob. 65ECh. 16 - Jackie is buying a new MP3 player from Better Buy....Ch. 16 - The service history of the Prego SUV is as...Ch. 16 - An insurance company plans to sell a 250,000...Ch. 16 - The ski club at Tasmania State University has 35...Ch. 16 - Prob. 70ECh. 16 - Prob. 71ECh. 16 - Two teams call them X and Y play against each...Ch. 16 - An urn contains seven red balls and three blue...Ch. 16 - Prob. 74ECh. 16 - Prob. 75ECh. 16 - A draw poker hand consists of 5 cards taken from a...Ch. 16 - Prob. 77ECh. 16 - Prob. 78ECh. 16 - Yahtzee. Yahtzee is a dice game in which five...Ch. 16 - In head-to-head, 7-card stud poker you make your...
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- Question 2. An American option on a stock has payoff given by F = f(St) when it is exercised at time t. We know that the function f is convex. A person claims that because of convexity, it is optimal to exercise at expiration T. Do you agree with them?arrow_forwardQuestion 4. We consider a CRR model with So == 5 and up and down factors u = 1.03 and d = 0.96. We consider the interest rate r = 4% (over one period). Is this a suitable CRR model? (Explain your answer.)arrow_forwardQuestion 3. We want to price a put option with strike price K and expiration T. Two financial advisors estimate the parameters with two different statistical methods: they obtain the same return rate μ, the same volatility σ, but the first advisor has interest r₁ and the second advisor has interest rate r2 (r1>r2). They both use a CRR model with the same number of periods to price the option. Which advisor will get the larger price? (Explain your answer.)arrow_forward
- Question 5. We consider a put option with strike price K and expiration T. This option is priced using a 1-period CRR model. We consider r > 0, and σ > 0 very large. What is the approximate price of the option? In other words, what is the limit of the price of the option as σ∞. (Briefly justify your answer.)arrow_forwardQuestion 6. You collect daily data for the stock of a company Z over the past 4 months (i.e. 80 days) and calculate the log-returns (yk)/(-1. You want to build a CRR model for the evolution of the stock. The expected value and standard deviation of the log-returns are y = 0.06 and Sy 0.1. The money market interest rate is r = 0.04. Determine the risk-neutral probability of the model.arrow_forwardSeveral markets (Japan, Switzerland) introduced negative interest rates on their money market. In this problem, we will consider an annual interest rate r < 0. We consider a stock modeled by an N-period CRR model where each period is 1 year (At = 1) and the up and down factors are u and d. (a) We consider an American put option with strike price K and expiration T. Prove that if <0, the optimal strategy is to wait until expiration T to exercise.arrow_forward
- We consider an N-period CRR model where each period is 1 year (At = 1), the up factor is u = 0.1, the down factor is d = e−0.3 and r = 0. We remind you that in the CRR model, the stock price at time tn is modeled (under P) by Sta = So exp (μtn + σ√AtZn), where (Zn) is a simple symmetric random walk. (a) Find the parameters μ and σ for the CRR model described above. (b) Find P Ste So 55/50 € > 1). StN (c) Find lim P 804-N (d) Determine q. (You can use e- 1 x.) Ste (e) Find Q So (f) Find lim Q 004-N StN Soarrow_forwardIn this problem, we consider a 3-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year. The interest rate is r = 0%. 16 22 28 12 16 12 8 4 2 time Figure 1: Stock evolution for Problem 1. (a) A colleague notices that in the model above, a movement up-down leads to the same value as a movement down-up. He concludes that the model is a CRR model. Is your colleague correct? (Explain your answer.) (b) We consider a European put with strike price K = 10 and expiration T = 3 years. Find the price of this option at time 0. Provide the replicating portfolio for the first period. (c) In addition to the call above, we also consider a European call with strike price K = 10 and expiration T = 3 years. Which one has the highest price? (It is not necessary to provide the price of the call.) (d) We now assume a yearly interest rate r = 25%. We consider a Bermudan put option with strike price K = 10. It works like a standard put, but you can exercise it…arrow_forwardIn this problem, we consider a 2-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year (At = 1). The yearly interest rate is r = 1/3 = 33%. This model is a CRR model. 25 15 9 10 6 4 time Figure 1: Stock evolution for Problem 1. (a) Find the values of up and down factors u and d, and the risk-neutral probability q. (b) We consider a European put with strike price K the price of this option at time 0. == 16 and expiration T = 2 years. Find (c) Provide the number of shares of stock that the replicating portfolio contains at each pos- sible position. (d) You find this option available on the market for $2. What do you do? (Short answer.) (e) We consider an American put with strike price K = 16 and expiration T = 2 years. Find the price of this option at time 0 and describe the optimal exercising strategy. (f) We consider an American call with strike price K ○ = 16 and expiration T = 2 years. Find the price of this option at time 0 and describe…arrow_forward
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