EBK COLLEGE MATHEMATICS FOR TRADES AND
10th Edition
ISBN: 8220106960301
Author: Hobbs
Publisher: PEARSON
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Chapter 3.2, Problem 46E
To determine
The 0.2% of 470 by using the percentage proportion.
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For each month of the year, Taylor collected the average high temperatures in Jackson, Mississippi. He used the data to create the histogram shown. Which set of data did he use to create the histogram?
A
55, 60, 64, 72, 73, 75, 77, 81, 83, 91, 91, 92\ 55,\ 60,\ 64,\ 72,\ 73,\ 75,\ 77,\ 81,\ 83,\ 91,\ 91,\ 92 55, 60, 64, 72, 73, 75, 77, 81, 83, 91, 91, 92
B
55, 57, 60, 65, 70, 71, 78, 79, 85, 86, 88, 91\ 55,\ 57,\ 60,\ 65,\ 70,\ 71,\ 78,\ 79,\ 85,\ 86,\ 88,\ 91 55, 57, 60, 65, 70, 71, 78, 79, 85, 86, 88, 91
C
55, 60, 63, 64, 65, 71, 83, 87, 88, 88, 89, 93\ 55,\ 60,\ 63,\ 64,\ 65,\ 71,\ 83,\ 87,\ 88,\ 88,\ 89,\ 93 55, 60, 63, 64, 65, 71, 83, 87, 88, 88, 89, 93
D
55, 58, 60, 66, 68, 75, 77, 82, 86, 89, 91, 91\ 55,\ 58,\ 60,\ 66,\ 68,\ 75,\ 77,\ 82,\ 86,\ 89,\ 91,\ 91 55, 58, 60, 66, 68, 75, 77, 82, 86, 89, 91, 91
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?
Chapter 3 Solutions
EBK COLLEGE MATHEMATICS FOR TRADES AND
Ch. 3.1 - Mentally multiply 0.3 times 100.
Ch. 3.1 - Prob. 2LCCh. 3.1 - Prob. 1ECh. 3.1 - Prob. 2ECh. 3.1 - Prob. 3ECh. 3.1 - Prob. 4ECh. 3.1 - Prob. 5ECh. 3.1 - Prob. 6ECh. 3.1 - Prob. 7ECh. 3.1 - Change the numbers to their percent equivalents....
Ch. 3.1 - Prob. 9ECh. 3.1 - Prob. 10ECh. 3.1 - Prob. 11ECh. 3.1 - Prob. 12ECh. 3.1 - Prob. 13ECh. 3.1 - Change the numbers to their percent equivalents....Ch. 3.1 - Prob. 15ECh. 3.1 - Prob. 16ECh. 3.1 - Prob. 17ECh. 3.1 - Prob. 18ECh. 3.1 - Prob. 19ECh. 3.1 - Prob. 20ECh. 3.1 - Prob. 21ECh. 3.1 - Prob. 22ECh. 3.1 - Prob. 23ECh. 3.1 - Prob. 24ECh. 3.1 - Prob. 25ECh. 3.1 - Set Example 3 Change to decimal equivalents. Round...Ch. 3.1 - Prob. 27ECh. 3.1 - Prob. 28ECh. 3.1 - Prob. 29ECh. 3.1 - Prob. 30ECh. 3.1 - Prob. 31ECh. 3.1 - Prob. 32ECh. 3.1 - Prob. 33ECh. 3.1 - Prob. 34ECh. 3.1 - Prob. 35ECh. 3.1 - Prob. 36ECh. 3.1 - Prob. 37ECh. 3.1 - Prob. 38ECh. 3.1 - Prob. 39ECh. 3.1 - Change to mixed-decimal equivalents. 425%Ch. 3.1 - Prob. 41ECh. 3.1 - Prob. 42ECh. 3.1 - Prob. 43ECh. 3.1 - Prob. 44ECh. 3.1 - Prob. 45ECh. 3.1 - Prob. 46ECh. 3.1 - Prob. 47ECh. 3.1 - Prob. 48ECh. 3.1 - Prob. 49ECh. 3.1 - Prob. 50ECh. 3.1 - Prob. 51ECh. 3.1 - Prob. 52ECh. 3.1 - Prob. 53ECh. 3.1 - See Example 4. Change to fractional equivalents....Ch. 3.1 - Prob. 55ECh. 3.1 - Prob. 56ECh. 3.1 - Prob. 57ECh. 3.1 - Prob. 58ECh. 3.1 - Prob. 59ECh. 3.1 - Prob. 60ECh. 3.1 - Prob. 61ECh. 3.1 - Prob. 62ECh. 3.1 - Prob. 63ECh. 3.1 - Prob. 64ECh. 3.1 - Prob. 65ECh. 3.1 - Prob. 66ECh. 3.1 - Prob. 67ECh. 3.1 - Prob. 68ECh. 3.1 - Prob. 69ECh. 3.1 - Prob. 70ECh. 3.1 - Statistics from FedStats. a governmental website,...Ch. 3.2 - Prob. 1LCCh. 3.2 - Prob. 2LCCh. 3.2 - Prob. 3LCCh. 3.2 - Prob. 1ECh. 3.2 - Prob. 2ECh. 3.2 - Prob. 3ECh. 3.2 - Prob. 4ECh. 3.2 - Prob. 5ECh. 3.2 - Prob. 6ECh. 3.2 - Prob. 7ECh. 3.2 - Prob. 8ECh. 3.2 - Prob. 9ECh. 3.2 - Prob. 10ECh. 3.2 - Prob. 11ECh. 3.2 - Prob. 12ECh. 3.2 - Prob. 13ECh. 3.2 - Prob. 14ECh. 3.2 - Prob. 15ECh. 3.2 - Prob. 16ECh. 3.2 - Prob. 17ECh. 3.2 - Prob. 18ECh. 3.2 - Solve using the percentage formula. See Example 2....Ch. 3.2 - Prob. 20ECh. 3.2 - Prob. 21ECh. 3.2 - Prob. 22ECh. 3.2 - Prob. 23ECh. 3.2 - Prob. 24ECh. 3.2 - Prob. 25ECh. 3.2 - Prob. 26ECh. 3.2 - Prob. 27ECh. 3.2 - Prob. 28ECh. 3.2 - Prob. 29ECh. 3.2 - See Example 5. The Drammelonnie Department Store...Ch. 3.2 - Prob. 31ECh. 3.2 - Prob. 32ECh. 3.2 - Prob. 33ECh. 3.2 - See Example 6. A receipt from Walmart in Memphis...Ch. 3.2 - Prob. 35ECh. 3.2 - Prob. 36ECh. 3.2 - Prob. 37ECh. 3.2 - Prob. 38ECh. 3.2 - Prob. 39ECh. 3.2 - Prob. 40ECh. 3.2 - Prob. 41ECh. 3.2 - Prob. 42ECh. 3.2 - Prob. 43ECh. 3.2 - Prob. 44ECh. 3.2 - Prob. 45ECh. 3.2 - Prob. 46ECh. 3.2 - Prob. 47ECh. 3.2 - Prob. 48ECh. 3.2 - Prob. 49ECh. 3.2 - Prob. 50ECh. 3.2 - Prob. 51ECh. 3.2 - Prob. 52ECh. 3.2 - Prob. 53ECh. 3.2 - Prob. 54ECh. 3.2 - Prob. 55ECh. 3.2 - Prob. 56ECh. 3.2 - Prob. 57ECh. 3.2 - Prob. 58ECh. 3.2 - Prob. 59ECh. 3.2 - Prob. 60ECh. 3.2 - Prob. 61ECh. 3.2 - Prob. 62ECh. 3.2 - Prob. 63ECh. 3.2 - Prob. 64ECh. 3.2 - Prob. 65ECh. 3.2 - Prob. 66ECh. 3.2 - Prob. 67ECh. 3.2 - Prob. 68ECh. 3.2 - Prob. 69ECh. 3.2 - Prob. 70ECh. 3.2 - Prob. 71ECh. 3.2 - Prob. 72ECh. 3.2 - Prob. 73ECh. 3.2 - Prob. 74ECh. 3.2 - Prob. 75ECh. 3.2 - Prob. 76ECh. 3.2 - Prob. 77ECh. 3.2 - Prob. 78ECh. 3.2 - Prob. 79ECh. 3.2 - Prob. 80ECh. 3.2 - Prob. 81ECh. 3.2 - Prob. 82ECh. 3.2 - Prob. 83ECh. 3.2 - Prob. 84ECh. 3.2 - Prob. 85ECh. 3.2 - Prob. 86ECh. 3.2 - Prob. 87ECh. 3.2 - Prob. 88ECh. 3.2 - Prob. 89ECh. 3.2 - Prob. 90ECh. 3.2 - Prob. 91ECh. 3.2 - Prob. 92ECh. 3.2 - Prob. 93ECh. 3.2 - Prob. 94ECh. 3.2 - Prob. 95ECh. 3.2 - Prob. 96ECh. 3.2 - Prob. 97ECh. 3.2 - Prob. 98ECh. 3.2 - Prob. 99ECh. 3.2 - Prob. 100ECh. 3.2 - Prob. 101ECh. 3.2 - Prob. 102ECh. 3.2 - Prob. 103ECh. 3.2 - Prob. 104ECh. 3.2 - Prob. 105ECh. 3.2 - Prob. 106ECh. 3.2 - Prob. 107ECh. 3.2 - Prob. 108ECh. 3.2 - Prob. 109ECh. 3.2 - Prob. 110ECh. 3.2 - Prob. 111ECh. 3.2 - Prob. 112ECh. 3.2 - Prob. 113ECh. 3.2 - Prob. 114ECh. 3.2 - Home heat loss through poor-fitting doors and...Ch. 3.2 - Prob. 116ECh. 3.2 - Prob. 117ECh. 3.2 - Prob. 118ECh. 3.2 - Prob. 119ECh. 3.2 - Prob. 120ECh. 3.3 - Prob. 1LCCh. 3.3 - Prob. 2LCCh. 3.3 - Prob. 1ECh. 3.3 - Prob. 2ECh. 3.3 - See Example 3.
Find the amount of increase if 432...Ch. 3.3 - Prob. 4ECh. 3.3 - See Example 3.
Jobs as athletic trainers totaled...Ch. 3.3 - See Example 3.
In 2010, the number of jobs as...Ch. 3.3 - See Example 4.
Find the amount of decrease if 68...Ch. 3.3 - See Example 4.
If 135 is decreased by 75%, what is...Ch. 3.3 - See Example 5.
If 17% extra flooring is needed to...Ch. 3.3 - See Example 5.
A contractor needs 1,650 board feet...Ch. 3.3 - See Example 5.
When making an estimate on a job, a...Ch. 3.3 - See Example 5.
A construction company requires...Ch. 3.3 - See Example 5.
Ciara Walker was earning $49,860...Ch. 3.3 - See Example 5.
LaTreas Walker received a 3% salary...Ch. 3.3 - See Example 6.
Steel rods shrink 10% when cooled...Ch. 3.3 - See Example 6.
Rock must be removed from a highway...Ch. 3.3 - See Example 6.
David Dawson earned $4,290 but paid...Ch. 3.3 - Megan Anders purchased a swimsuit that was priced...Ch. 3.3 - Prob. 19ECh. 3.3 - Prob. 20ECh. 3.3 - Prob. 21ECh. 3.3 - Prob. 22ECh. 3.3 - Find the complement of 86.3%.
Ch. 3.3 - Prob. 24ECh. 3.3 - Prob. 25ECh. 3.3 - Prob. 26ECh. 3.3 - Prob. 27ECh. 3.3 - Prob. 28ECh. 3.3 - Prob. 29ECh. 3.3 - Prob. 30ECh. 3.3 - Solve. See Example 10.
A chicken farmer bought...Ch. 3.3 - Solve. See Example 10.
An electrician recorded...Ch. 3.3 - Prob. 33ECh. 3.3 - Solve. See Example 10.
The cost of No. 1 pine...Ch. 3.3 - Solve. See Example 10.
A month’s supply of...Ch. 3.3 - See Example 11.
A contractor ordered 10.5 yd3 of...Ch. 3.3 - See Example 11.
An engine that has a 4% loss of...Ch. 3.3 - See Example 11.
A shop manager records a 14% loss...Ch. 3.3 - See Example 11.
Steel bars shrink 10% when cooled...Ch. 3.3 - See Example 11.
A 141-hp output is required for an...Ch. 3 - Change to percent equivalents. 0.7Ch. 3 - Change to percent equivalents. 0.35Ch. 3 - Prob. 3RECh. 3 - Prob. 4RECh. 3 - Prob. 5RECh. 3 - Prob. 6RECh. 3 - Prob. 7RECh. 3 - Prob. 8RECh. 3 - Prob. 9RECh. 3 - Prob. 10RECh. 3 - Prob. 11RECh. 3 - Prob. 12RECh. 3 - Prob. 13RECh. 3 - Prob. 14RECh. 3 - Prob. 15RECh. 3 - Prob. 16RECh. 3 - Prob. 17RECh. 3 - Prob. 18RECh. 3 - Prob. 19RECh. 3 - Prob. 20RECh. 3 - Prob. 21RECh. 3 - Prob. 22RECh. 3 - Prob. 23RECh. 3 - Prob. 24RECh. 3 - Prob. 25RECh. 3 - Prob. 26RECh. 3 - Prob. 27RECh. 3 - Prob. 28RECh. 3 - Prob. 29RECh. 3 - Prob. 30RECh. 3 - Prob. 31RECh. 3 - Prob. 32RECh. 3 - Prob. 33RECh. 3 - Prob. 34RECh. 3 - Prob. 35RECh. 3 - Prob. 36RECh. 3 - Prob. 37RECh. 3 - Prob. 38RECh. 3 - Prob. 39RECh. 3 - Prob. 40RECh. 3 - Prob. 41RECh. 3 - Prob. 42RECh. 3 - Prob. 43RECh. 3 - Solve using the percentage formula.
of 576 is...Ch. 3 - Prob. 45RECh. 3 - Prob. 46RECh. 3 - Prob. 47RECh. 3 - Prob. 48RECh. 3 - Prob. 49RECh. 3 - Prob. 50RECh. 3 - Prob. 51RECh. 3 - Prob. 52RECh. 3 - Prob. 53RECh. 3 - Prob. 54RECh. 3 - Solve using the percentage proportion.
24% of is...Ch. 3 - Solve using the percentage proportion.
7.56 is of...Ch. 3 - Prob. 57RECh. 3 - Prob. 58RECh. 3 - Prob. 59RECh. 3 - Prob. 60RECh. 3 - Prob. 61RECh. 3 - Prob. 62RECh. 3 - Prob. 63RECh. 3 - Prob. 64RECh. 3 - Prob. 65RECh. 3 - Prob. 66RECh. 3 - Prob. 67RECh. 3 - Prob. 68RECh. 3 - Prob. 69RECh. 3 - Prob. 70RECh. 3 - Prob. 71RECh. 3 - Prob. 72RECh. 3 - Prob. 73RECh. 3 - Prob. 74RECh. 3 - Prob. 75RECh. 3 - Prob. 76RECh. 3 - Prob. 77RECh. 3 - Prob. 78RECh. 3 - Prob. 79RECh. 3 - Prob. 80RECh. 3 - Prob. 81RECh. 3 - Prob. 82RECh. 3 - Prob. 83RECh. 3 - Prob. 84RECh. 3 - Prob. 85RECh. 3 - Prob. 86RECh. 3 - Prob. 87RECh. 3 - Prob. 88RECh. 3 - Prob. 89RECh. 3 - Prob. 90RECh. 3 - Prob. 91RECh. 3 - Prob. 92RECh. 3 - Prob. 93RECh. 3 - Prob. 94RECh. 3 - Prob. 95RECh. 3 - Prob. 96RECh. 3 - Prob. 97RECh. 3 - Prob. 98RECh. 3 - Prob. 99RECh. 3 - Prob. 100RECh. 3 - Prob. 101RECh. 3 - Prob. 102RECh. 3 - Prob. 103RECh. 3 - Prob. 104RECh. 3 - Prob. 105RECh. 3 - Prob. 106RECh. 3 - Prob. 107RECh. 3 - Prob. 108RECh. 3 - Prob. 109RECh. 3 - Prob. 110RECh. 3 - Find the complement of 92%
Ch. 3 - A washing machine that sells for $389 is on sale...Ch. 3 - Prob. 113RECh. 3 - Prob. 114RECh. 3 - Prob. 115RECh. 3 - Prob. 116RECh. 3 - Prob. 117RECh. 3 - Prob. 118RECh. 3 - Prob. 119RECh. 3 - Prob. 120RECh. 3 - Prob. 121RECh. 3 - Prob. 122RECh. 3 - Prob. 123RECh. 3 - Prob. 124RECh. 3 - Prob. 125RECh. 3 - Prob. 126RECh. 3 - Prob. 127RECh. 3 - Prob. 128RECh. 3 - Prob. 129RECh. 3 - Prob. 130RECh. 3 - Prob. 131RECh. 3 - Prob. 132RECh. 3 - Prob. 1CACh. 3 - Prob. 2CACh. 3 - Prob. 3CACh. 3 - Prob. 4CACh. 3 - Prob. 5CACh. 3 - Prob. 6CACh. 3 - Prob. 7CACh. 3 - Prob. 8CACh. 3 - Prob. 9CACh. 3 - Prob. 10CACh. 3 - Prob. 11CACh. 3 - Prob. 12CACh. 3 - Prob. 13CACh. 3 - Prob. 14CACh. 3 - Prob. 15CACh. 3 - Prob. 1PTCh. 3 - Prob. 2PTCh. 3 - Prob. 3PTCh. 3 - Prob. 4PTCh. 3 - Prob. 5PTCh. 3 - Prob. 6PTCh. 3 - Prob. 7PTCh. 3 - Prob. 8PTCh. 3 - Prob. 9PTCh. 3 - Prob. 10PTCh. 3 - Prob. 11PTCh. 3 - Prob. 12PTCh. 3 - Prob. 13PTCh. 3 - Prob. 14PTCh. 3 - Prob. 15PTCh. 3 - Prob. 16PTCh. 3 - Prob. 17PTCh. 3 - Prob. 18PTCh. 3 - Prob. 19PTCh. 3 - Prob. 20PTCh. 3 - Prob. 21PTCh. 3 - Prob. 22PTCh. 3 - Prob. 23PTCh. 3 - Prob. 24PTCh. 3 - Prob. 25PTCh. 3 - Prob. 26PTCh. 3 - Prob. 27PTCh. 3 - Prob. 28PTCh. 3 - Prob. 29PTCh. 3 - Prob. 30PTCh. 3 - Prob. 31PTCh. 3 - Prob. 32PTCh. 3 - Prob. 1CPTCh. 3 - Prob. 2CPTCh. 3 - Prob. 3CPTCh. 3 - Prob. 4CPTCh. 3 - Prob. 5CPTCh. 3 - Prob. 6CPTCh. 3 - Prob. 7CPTCh. 3 - Prob. 8CPTCh. 3 - Prob. 9CPTCh. 3 - Prob. 10CPTCh. 3 - Prob. 11CPTCh. 3 - Prob. 12CPTCh. 3 - Prob. 13CPTCh. 3 - Prob. 14CPTCh. 3 - Prob. 15CPTCh. 3 - Prob. 16CPTCh. 3 - Prob. 17CPTCh. 3 - Prob. 18CPTCh. 3 - Prob. 19CPTCh. 3 - Prob. 20CPTCh. 3 - Prob. 21CPTCh. 3 - Prob. 22CPTCh. 3 - Prob. 23CPTCh. 3 - Prob. 24CPTCh. 3 - Prob. 25CPTCh. 3 - Prob. 26CPTCh. 3 - Prob. 27CPTCh. 3 - Prob. 28CPTCh. 3 - Prob. 29CPTCh. 3 - Prob. 30CPTCh. 3 - Prob. 31CPTCh. 3 - Prob. 32CPTCh. 3 - Prob. 33CPTCh. 3 - To calculate the percent of protein in pet food on...Ch. 3 - Prob. 35CPT
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- The Course Name Real Analysis please Solve questions by Real Analysisarrow_forwardWe consider a 4-dimensional stock price model given (under P) by dẴ₁ = µ· Xt dt + йt · ΣdŴt where (W) is an n-dimensional Brownian motion, π = (0.02, 0.01, -0.02, 0.05), 0.2 0 0 0 0.3 0.4 0 0 Σ= -0.1 -4a За 0 0.2 0.4 -0.1 0.2) and a E R. We assume that ☑0 = (1, 1, 1, 1) and that the interest rate on the market is r = 0.02. (a) Give a condition on a that would make stock #3 be the one with largest volatility. (b) Find the diversification coefficient for this portfolio as a function of a. (c) Determine the maximum diversification coefficient d that you could reach by varying the value of a? 2arrow_forwardQuestion 1. Your manager asks you to explain why the Black-Scholes model may be inappro- priate for pricing options in practice. Give one reason that would substantiate this claim? Question 2. We consider stock #1 and stock #2 in the model of Problem 2. Your manager asks you to pick only one of them to invest in based on the model provided. Which one do you choose and why ? Question 3. Let (St) to be an asset modeled by the Black-Scholes SDE. Let Ft be the price at time t of a European put with maturity T and strike price K. Then, the discounted option price process (ert Ft) t20 is a martingale. True or False? (Explain your answer.) Question 4. You are considering pricing an American put option using a Black-Scholes model for the underlying stock. An explicit formula for the price doesn't exist. In just a few words (no more than 2 sentences), explain how you would proceed to price it. Question 5. We model a short rate with a Ho-Lee model drt = ln(1+t) dt +2dWt. Then the interest rate…arrow_forward
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