Understanding Basic Statistics
Understanding Basic Statistics
7th Edition
ISBN: 9781305254060
Author: Charles Henry Brase, Corrinne Pellillo Brase
Publisher: Cengage Learning
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Chapter 2.3, Problem 3P
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To graph: A stem-and-leaf plot for the data of longevity of cowboys and the distribution of data is skewed.

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Problem 3. Pricing a multi-stock option the Margrabe formula The purpose of this problem is to price a swap option in a 2-stock model, similarly as what we did in the example in the lectures. We consider a two-dimensional Brownian motion given by W₁ = (W(¹), W(2)) on a probability space (Q, F,P). Two stock prices are modeled by the following equations: dX = dY₁ = X₁ (rdt+ rdt+0₁dW!) (²)), Y₁ (rdt+dW+0zdW!"), with Xo xo and Yo =yo. This corresponds to the multi-stock model studied in class, but with notation (X+, Y₁) instead of (S(1), S(2)). Given the model above, the measure P is already the risk-neutral measure (Both stocks have rate of return r). We write σ = 0₁+0%. We consider a swap option, which gives you the right, at time T, to exchange one share of X for one share of Y. That is, the option has payoff F=(Yr-XT). (a) We first assume that r = 0 (for questions (a)-(f)). Write an explicit expression for the process Xt. Reminder before proceeding to question (b): Girsanov's theorem…
Problem 1. Multi-stock model We consider a 2-stock model similar to the one studied in class. Namely, we consider = S(1) S(2) = S(¹) exp (σ1B(1) + (M1 - 0/1 ) S(²) exp (02B(2) + (H₂- M2 where (B(¹) ) +20 and (B(2) ) +≥o are two Brownian motions, with t≥0 Cov (B(¹), B(2)) = p min{t, s}. " The purpose of this problem is to prove that there indeed exists a 2-dimensional Brownian motion (W+)+20 (W(1), W(2))+20 such that = S(1) S(2) = = S(¹) exp (011W(¹) + (μ₁ - 01/1) t) 롱) S(²) exp (021W (1) + 022W(2) + (112 - 03/01/12) t). where σ11, 21, 22 are constants to be determined (as functions of σ1, σ2, p). Hint: The constants will follow the formulas developed in the lectures. (a) To show existence of (Ŵ+), first write the expression for both W. (¹) and W (2) functions of (B(1), B(²)). as (b) Using the formulas obtained in (a), show that the process (WA) is actually a 2- dimensional standard Brownian motion (i.e. show that each component is normal, with mean 0, variance t, and that their…
The scores of 8 students on the midterm exam and final exam were as follows.   Student Midterm Final Anderson 98 89 Bailey 88 74 Cruz 87 97 DeSana 85 79 Erickson 85 94 Francis 83 71 Gray 74 98 Harris 70 91   Find the value of the (Spearman's) rank correlation coefficient test statistic that would be used to test the claim of no correlation between midterm score and final exam score. Round your answer to 3 places after the decimal point, if necessary. Test statistic: rs =

Chapter 2 Solutions

Understanding Basic Statistics

Ch. 2.1 - Interpretation Histograms of random sample data...Ch. 2.1 - Interpretation The following histograms are based...Ch. 2.1 - Interpretation The ogives shown are based on U.S...Ch. 2.1 - Critical Thinking The following ogives come from...Ch. 2.1 - For Problems 15-20. use the specified number of...Ch. 2.1 - For Problems 15-20, use the specified number of...Ch. 2.1 - For Problems 15-20, use the specified number of...Ch. 2.1 - For Problems 15-20, use the specified number of...Ch. 2.1 - Prob. 19PCh. 2.1 - Prob. 20PCh. 2.1 - Expand Your knowledge: Decimal Data The fallowing...Ch. 2.1 - Decimal Data: Batting Averages The following data...Ch. 2.1 - Expand Your Knowledge: Dotplot another display...Ch. 2.1 - 24. Dotplot: Sled Dog Racing Make a dotplot for...Ch. 2.1 - Prob. 25PCh. 2.2 - 1. Interpretation Consider graph (a) of Reasons...Ch. 2.2 - Interpretation Look at graph (b) of Reasons People...Ch. 2.2 - Critical Thinking A personnel office is gathering...Ch. 2.2 - Critical Thinking Your friend is thinking about...Ch. 2.2 - Prob. 5PCh. 2.2 - Interpretation Consider the two graphs depicting...Ch. 2.2 - Commercial Fishing: Gulf of Alaska It's not an...Ch. 2.2 - Archaeology: Ireland Commercial dredging...Ch. 2.2 - Lifestyle: Hide the Mess! A survey of 1000 adults...Ch. 2.2 - Education: College Professors' Time How do college...Ch. 2.2 - FBI Report: Hawaii In the Aloha state, you are...Ch. 2.2 - Driving: Bad Habits Driving would be more pleasant...Ch. 2.2 - Prob. 13PCh. 2.2 - Vital Statistics: Height How dies average height...Ch. 2.2 - Expand Your Knowledge Donut Pie Charts The book...Ch. 2.2 - Technology: Cars The following cluster bar graph...Ch. 2.3 - Cowboys: Longevity How long did real cowboys live?...Ch. 2.3 - Ecology: Habitat Wetlands offer a diversity of...Ch. 2.3 - Prob. 3PCh. 2.3 - Health Care: Hospitals Using the number of...Ch. 2.3 - Prob. 5PCh. 2.3 - Prob. 6PCh. 2.3 - Are cigarettes bad for people? Cigarette smoking...Ch. 2.3 - Are cigarettes bad for people? Cigarette smoking...Ch. 2.3 - Are cigarettes bad for people? Cigarette smoking...Ch. 2.3 - Expand Your Knowledge: Back-to-Back Stem Plot In...Ch. 2 - Critical Thinking Consider these types of graphs:...Ch. 2 - Critical Thinking A consumer interest group is...Ch. 2 - Critical Thinking Describe how data outliers might...Ch. 2 - Expand Your Knowledge How are dotplots and...Ch. 2 - Focus Problem: Fuel Economy Solve the focus...Ch. 2 - Criminal Justice: Prisoners The time plot in...Ch. 2 - IRS: Tax Returns Almost everyone files (or will...Ch. 2 - Prob. 8CRCh. 2 - Prob. 9CRCh. 2 - Law: Corporation Lawsuits Many people say the...Ch. 2 - Archaeology: Tree-King DataThe Sand Canyon...Ch. 2 - Interpretation A Harm Poll surveyed 2085 U.S....Ch. 2 - Examine Figure 2-20, Everyone Agrees: Slobs Make...Ch. 2 - Examine Figure 2-21, Global Teen Worries. How many...Ch. 2 - In your own words, explain the differences among...Ch. 2 - What do we mean when we say a histogram is skewed...Ch. 2 - Discuss the statement that stem-and-leaf displays...Ch. 2 - The following tables show the first-round winning...Ch. 2 - The following tables show the first-round winning...Ch. 2 - The Following tables show the first-round winning...
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