Elementary Statistics: Picturing the World (6th Edition)
6th Edition
ISBN: 9780321911216
Author: Ron Larson, Betsy Farber
Publisher: PEARSON
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Question
Chapter 3.3, Problem 4TY
a.
To determine
To identify: The events A and B.
b.
To determine
Whether the events are mutually exclusive.
c.
To determine
To find: The
d.
To determine
The probability for selecting a donor with B or AB blood type.
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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.)
Chapter 3 Solutions
Elementary Statistics: Picturing the World (6th Edition)
Ch. 3.1 - Prob. 1TYCh. 3.1 - Prob. 2TYCh. 3.1 - Prob. 3TYCh. 3.1 - Prob. 4TYCh. 3.1 - Prob. 5TYCh. 3.1 - Prob. 6TYCh. 3.1 - Prob. 7TYCh. 3.1 - Prob. 8TYCh. 3.1 - Prob. 9TYCh. 3.1 - Prob. 10TY
Ch. 3.1 - Prob. 11TYCh. 3.1 - What is the difference between an outcome and an...Ch. 3.1 - Prob. 2ECh. 3.1 - Explain why the statement is incorrect: The...Ch. 3.1 - When you use the Fundamental Counting Principle,...Ch. 3.1 - Describe the law of large numbers in your own...Ch. 3.1 - List the three formulas that can be used to...Ch. 3.1 - Prob. 7ECh. 3.1 - True or False? In Exercises 710, determine whether...Ch. 3.1 - A probability of 110 indicates an unusual event.Ch. 3.1 - True or False? In Exercises 710, determine whether...Ch. 3.1 - Prob. 11ECh. 3.1 - Prob. 12ECh. 3.1 - Matching Probabilities In Exercises 1116, match...Ch. 3.1 - Matching Probabilities In Exercises 1116, match...Ch. 3.1 - Identifying the Sample Space of a Probability...Ch. 3.1 - Identifying the Sample Space of a Probability...Ch. 3.1 - Identifying the Sample Space of a Probability...Ch. 3.1 - Identifying the Sample Space of a Probability...Ch. 3.1 - Prob. 19ECh. 3.1 - Identifying the Sample Space of a Probability...Ch. 3.1 - Prob. 21ECh. 3.1 - Prob. 22ECh. 3.1 - Prob. 23ECh. 3.1 - Prob. 24ECh. 3.1 - Prob. 25ECh. 3.1 - Prob. 26ECh. 3.1 - Using the Fundamental Counting Principle In...Ch. 3.1 - Using the Fundamental Counting Principle In...Ch. 3.1 - Finding Classical Probabilities In Exercises 4146,...Ch. 3.1 - Finding Classical Probabilities In Exercises 4146,...Ch. 3.1 - Finding Classical Probabilities In Exercises 4146,...Ch. 3.1 - Finding Classical Probabilities In Exercises 4146,...Ch. 3.1 - Finding Classical Probabilities In Exercises 4146,...Ch. 3.1 - Finding Classical Probabilities In Exercises 4146,...Ch. 3.1 - Prob. 35ECh. 3.1 - Prob. 36ECh. 3.1 - Prob. 37ECh. 3.1 - Prob. 38ECh. 3.1 - Prob. 39ECh. 3.1 - Prob. 40ECh. 3.1 - Classifying Types of Probability In Exercises...Ch. 3.1 - Classifying Types of Probability In Exercises...Ch. 3.1 - Classifying Types of Probability In Exercises...Ch. 3.1 - Prob. 44ECh. 3.1 - Classifying Types of Probability In Exercises...Ch. 3.1 - Classifying Types of Probability In Exercises...Ch. 3.1 - Prob. 47ECh. 3.1 - Prob. 48ECh. 3.1 - Prob. 49ECh. 3.1 - Prob. 50ECh. 3.1 - Using a Tree Diagram In Exercises 6366, a...Ch. 3.1 - Using a Tree Diagram In Exercises 6366, a...Ch. 3.1 - Using a Tree Diagram In Exercises 6366, a...Ch. 3.1 - Using a Tree Diagram In Exercises 6366, a...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 - Using a Bar Graph to Find Probabilities In...Ch. 3.1 - Using a Bar Graph to Find Probabilities In...Ch. 3.1 - Using a Bar Graph to Find Probabilities In...Ch. 3.1 - Using a Bar Graph to Find Probabilities In...Ch. 3.1 - Prob. 67ECh. 3.1 - Prob. 68ECh. 3.1 - Prob. 69ECh. 3.1 - Prob. 70ECh. 3.1 - Prob. 71ECh. 3.1 - Prob. 72ECh. 3.1 - Prob. 73ECh. 3.1 - Prob. 74ECh. 3.1 - Prob. 75ECh. 3.1 - Individual Stock Price An individual stock is...Ch. 3.1 - Writing In Exercises 89 and 90, write a statement...Ch. 3.1 - Writing In Exercises 89 and 90, write a statement...Ch. 3.1 - Odds The chances of winning are often written in...Ch. 3.1 - Odds The chances of winning are often written in...Ch. 3.1 - Odds The chances of winning are often written in...Ch. 3.1 - Odds The chances of winning are often written in...Ch. 3.1 - Odds The chances of winning are often written in...Ch. 3.1 - Odds The chances of winning are often written in...Ch. 3.1 - Run the simulation using n = 1 without clicking...Ch. 3.1 - Run the applet to simulate the stock market...Ch. 3.2 - Prob. 1TYCh. 3.2 - Prob. 2TYCh. 3.2 - Prob. 3TYCh. 3.2 - Prob. 4TYCh. 3.2 - Prob. 5TYCh. 3.2 - What is the difference between independent and...Ch. 3.2 - Give an example of (a) two events that are...Ch. 3.2 - What does the notation P(B|A) mean?Ch. 3.2 - Explain how to use the complement to find the...Ch. 3.2 - True or False? In Exercises 5 and 6, determine...Ch. 3.2 - True or False? In Exercises 5 and 6, determine...Ch. 3.2 - Prob. 7ECh. 3.2 - Prob. 8ECh. 3.2 - Classifying Events as Independent or Dependent In...Ch. 3.2 - Classifying Events as Independent or Dependent In...Ch. 3.2 - Classifying Events as Independent or Dependent In...Ch. 3.2 - Classifying Events as Independent or Dependent In...Ch. 3.2 - Classifying Events as Independent or Dependent In...Ch. 3.2 - Classifying Events as Independent or Dependent In...Ch. 3.2 - Classifying Events Based on Studies In Exercises...Ch. 3.2 - Prob. 16ECh. 3.2 - Prob. 17ECh. 3.2 - Prob. 18ECh. 3.2 - Prob. 19ECh. 3.2 - Using the Multiplication Rule In Exercises 1932,...Ch. 3.2 - Prob. 21ECh. 3.2 - Pickup Trucks In a survey, 510 U.S. adults were...Ch. 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 - Prob. 30ECh. 3.2 - Prob. 31ECh. 3.2 - Surviving Surgery A doctor gives a patient a 60%...Ch. 3.2 - According to Bayes Theorem, the probability of...Ch. 3.2 - According to Bayes Theorem, the probability of...Ch. 3.2 - According to Bayes Theorem, the probability of...Ch. 3.2 - According to Bayes Theorem, the probability of...Ch. 3.2 - Reliability of Testing A virus infects one in...Ch. 3.2 - Birthday Problem You are in a class that has 24...Ch. 3.2 - In Exercises 41 and 42, use the information below....Ch. 3.2 - In Exercises 41 and 42, use the information below....Ch. 3.3 - Prob. 1TYCh. 3.3 - Prob. 2TYCh. 3.3 - Prob. 3TYCh. 3.3 - Prob. 4TYCh. 3.3 - Prob. 5TYCh. 3.3 - When two events are mutually exclusive, why is P(A...Ch. 3.3 - Give an example of (a) two events that are...Ch. 3.3 - True or False? In Exercises 36, determine whether...Ch. 3.3 - A die is rolled. Find the probability of rolling a...Ch. 3.3 - True or False? In Exercises 36, determine whether...Ch. 3.3 - True or False? In Exercises 36, determine whether...Ch. 3.3 - Graphical Analysis In Exercises 7 and 8, determine...Ch. 3.3 - Graphical Analysis In Exercises 7 and 8, determine...Ch. 3.3 - Prob. 9ECh. 3.3 - Recognizing Mutually Exclusive Events In Exercises...Ch. 3.3 - Recognizing Mutually Exclusive Events In Exercises...Ch. 3.3 - Recognizing Mutually Exclusive Events In Exercises...Ch. 3.3 - Students A physics class has 40 students. Of...Ch. 3.3 - Conference A teaching conference has an attendance...Ch. 3.3 - Carton Defects Of the cartons produced by a...Ch. 3.3 - Can Defects Of the cans produced by a company, 96%...Ch. 3.3 - Selecting a Card A card is selected at random from...Ch. 3.3 - Rolling a Die You roll a die. Find the probability...Ch. 3.3 - Prob. 19ECh. 3.3 - Prob. 20ECh. 3.3 - Prob. 21ECh. 3.3 - Prob. 22ECh. 3.3 - Prob. 23ECh. 3.3 - Prob. 24ECh. 3.3 - Prob. 25ECh. 3.3 - Eye Surrey The table shows the results of a survey...Ch. 3.3 - Writing Can two events with nonzero probabilities...Ch. 3.3 - In the Venn diagram shown at the left, P(A or B or...Ch. 3.3 - Prob. 29ECh. 3.3 - Prob. 30ECh. 3.3 - Run the simulation using each value of n one time....Ch. 3.3 - Prob. 2ACh. 3.3 - Prob. 1CSCh. 3.3 - Prob. 2CSCh. 3.3 - Prob. 3CSCh. 3.3 - Prob. 4CSCh. 3.3 - Prob. 5CSCh. 3.3 - Prob. 6CSCh. 3.4 - Prob. 1TYCh. 3.4 - Prob. 2TYCh. 3.4 - Prob. 3TYCh. 3.4 - Prob. 4TYCh. 3.4 - Prob. 5TYCh. 3.4 - Prob. 6TYCh. 3.4 - Prob. 7TYCh. 3.4 - Prob. 8TYCh. 3.4 - Prob. 1ECh. 3.4 - When you calculate the number of combinations of r...Ch. 3.4 - Prob. 3ECh. 3.4 - True or False? In Exercises 36, determine whether...Ch. 3.4 - True or False? In Exercises 36, determine whether...Ch. 3.4 - True or False? In Exercises 36, determine whether...Ch. 3.4 - In Exercises 714, perform the indicated...Ch. 3.4 - Prob. 8ECh. 3.4 - In Exercises 714, perform the indicated...Ch. 3.4 - In Exercises 714, perform the indicated...Ch. 3.4 - In Exercises 714, perform the indicated...Ch. 3.4 - Prob. 12ECh. 3.4 - Prob. 13ECh. 3.4 - Prob. 14ECh. 3.4 - Prob. 15ECh. 3.4 - In Exercises 1518, determine whether the situation...Ch. 3.4 - In Exercises 1518, determine whether the situation...Ch. 3.4 - In Exercises 1518, determine whether the situation...Ch. 3.4 - Video Games You have seven different video games....Ch. 3.4 - Skiing Eight people compete in a downhill ski...Ch. 3.4 - Security Code In how many ways can the letters A,...Ch. 3.4 - Starting Lineup The starting lineup for a softball...Ch. 3.4 - Footrace There are 50 runners in a race. 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You...Ch. 3 - A random sample of 250 working adults found that...Ch. 3 - Prob. 3.3.30RECh. 3 - Prob. 3.3.31RECh. 3 - In Exercises 2932, find the probability. 30. A...Ch. 3 - Prob. 3.3.33RECh. 3 - Prob. 3.3.34RECh. 3 - Prob. 3.3.35RECh. 3 - Prob. 3.3.36RECh. 3 - Prob. 3.3.37RECh. 3 - Prob. 3.3.38RECh. 3 - Prob. 3.3.39RECh. 3 - Prob. 3.3.40RECh. 3 - Prob. 3.4.41RECh. 3 - Prob. 3.4.42RECh. 3 - Prob. 3.4.43RECh. 3 - Prob. 3.4.44RECh. 3 - Prob. 3.4.45RECh. 3 - Prob. 3.4.46RECh. 3 - Prob. 3.4.47RECh. 3 - Prob. 3.4.48RECh. 3 - In Exercises 4953, use counting principles to find...Ch. 3 - In Exercises 4953, use counting principles to find...Ch. 3 - A shipment of 200 calculators contains 3 defective...Ch. 3 - Prob. 3.4.52RECh. 3 - Prob. 3.4.53RECh. 3 - Take this quiz as you would take a quiz in class....Ch. 3 - Prob. 2CQCh. 3 - Prob. 3CQCh. 3 - Prob. 4CQCh. 3 - From a pool of 30 candidates, the offices of...Ch. 3 - A shipment of 250 netbooks contains 3 defective...Ch. 3 - In Exercise 6. find the probability of the vending...Ch. 3 - Sixty-five runners compete in a 10k race. 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