Mathematics for Machine Technology
7th Edition
ISBN: 9781133281450
Author: John C. Peterson, Robert D. Smith
Publisher: Cengage Learning
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Chapter 40, Problem 104A
To determine
Simplify the given expression.
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4. Assume that a risk-free money market account is added to the market described in Q3.
The continuously compounded rate of return on the money market account is log (1.1).
(i) For each given μ, use Lagrange multipliers to determine the proportions (as a
function of μ) of wealth invested in the three assets available for the minimum
variance portfolio with expected return μ.
(ii) Determine the market portfolio in this market and calculate its Sharp ratio.
3. A market consists of two risky assets with rates of return R₁ and R2 and no risk-free
asset. From market data the following have been estimated: ER₁ = 0.25, ER2 = 0.05,
Var R₁ = 0.01, Var R2 = 0.04 and the correlation between R1 and R2 is p = -0.75.
(i) Given that an investor is targeting a total expected return of μ = 0.2. What
portfolio weights should they choose to meet this goal with minimum portfolio
variance? Correct all your calculations up to 4 decimal points.
(ii) Determine the global minimum-variance portfolio and the expected return and
variance of return of this portfolio (4 d.p.).
(iii) Sketch the minimum-variance frontier in the μ-σ² plane and indicate the efficient
frontier.
(iv) Without further calculation, explain how the minimum variance of the investor's
portfolio return will change if the two risky assets were independent.
2. A landlord is about to write a rental contract for a tenant which lasts T months. The
landlord first decides the length T > 0 (need not be an integer) of the contract, the
tenant then signs it and pays an initial handling fee of £100 before moving in. The
landlord collects the total amount of rent erT at the end of the contract at a continuously
compounded rate r> 0, but the contract stipulates that the tenant may leave before T,
in which case the landlord only collects the total rent up until the tenant's departure
time 7. Assume that 7 is exponentially distributed with rate > 0, λ‡r.
(i) Calculate the expected total payment EW the landlord will receive in terms of T.
(ii) Assume that the landlord has logarithmic utility U(w) = log(w - 100) and decides
that the rental rate r should depend on the contract length T by
r(T)
=
λ
√T
1
For each given λ, what T (as a function of X) should the landlord choose so as to
maximise their expected utility? Justify your answer.
Hint. It might be…
Chapter 40 Solutions
Mathematics for Machine Technology
Ch. 40 - Add (9x2y+xy5xy2),(3x2y4xy+5xy2) and (7x2y+3xy)Ch. 40 - Multiply the signed numbers -16.2, 12.3, and -4.5.Ch. 40 - Use the proper order of operations to simplify...Ch. 40 - Prob. 4ACh. 40 - Prob. 5ACh. 40 - Prob. 6ACh. 40 - Divide the following terms as indicated. 4x22xCh. 40 - Divide the following terms as indicated....Ch. 40 - Prob. 9ACh. 40 - Divide the following terms as indicated. FS2FS2
Ch. 40 - Divide the following terms as indicated. 014mnCh. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated. DM2(1)Ch. 40 - Divide the following terms as indicated. 3.7ababCh. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated....Ch. 40 - Prob. 22ACh. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following terms as indicated. 34FS3(3S)Ch. 40 - Divide the following terms as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Divide the following expressions as indicated....Ch. 40 - Prob. 36ACh. 40 - Divide the following expressions as indicated....Ch. 40 - Prob. 38ACh. 40 - Prob. 39ACh. 40 - Prob. 40ACh. 40 - Raise the following terms to indicated powers....Ch. 40 - Prob. 42ACh. 40 - Prob. 43ACh. 40 - Prob. 44ACh. 40 - Prob. 45ACh. 40 - Prob. 46ACh. 40 - Prob. 47ACh. 40 - Prob. 48ACh. 40 - Prob. 49ACh. 40 - Prob. 50ACh. 40 - Prob. 51ACh. 40 - Prob. 52ACh. 40 - Prob. 53ACh. 40 - Prob. 54ACh. 40 - Prob. 55ACh. 40 - Prob. 56ACh. 40 - Prob. 57ACh. 40 - Prob. 58ACh. 40 - Prob. 59ACh. 40 - Prob. 60ACh. 40 - Prob. 61ACh. 40 - Prob. 62ACh. 40 - Prob. 63ACh. 40 - Prob. 64ACh. 40 - Prob. 65ACh. 40 - Prob. 66ACh. 40 - Prob. 67ACh. 40 - Prob. 68ACh. 40 - Prob. 69ACh. 40 - Prob. 70ACh. 40 - Determine the roots of the following terms. 81x8y6Ch. 40 - Prob. 72ACh. 40 - Prob. 73ACh. 40 - Prob. 74ACh. 40 - Prob. 75ACh. 40 - Prob. 76ACh. 40 - Prob. 77ACh. 40 - Prob. 78ACh. 40 - Prob. 79ACh. 40 - Prob. 80ACh. 40 - Prob. 81ACh. 40 - Prob. 82ACh. 40 - Prob. 83ACh. 40 - Prob. 84ACh. 40 - Prob. 85ACh. 40 - Prob. 86ACh. 40 - Prob. 87ACh. 40 - Prob. 88ACh. 40 - Prob. 89ACh. 40 - Prob. 90ACh. 40 - Prob. 91ACh. 40 - Prob. 92ACh. 40 - Prob. 93ACh. 40 - Prob. 94ACh. 40 - Prob. 95ACh. 40 - Prob. 96ACh. 40 - Prob. 97ACh. 40 - Prob. 98ACh. 40 - Prob. 99ACh. 40 - Prob. 100ACh. 40 - Prob. 101ACh. 40 - Prob. 102ACh. 40 - Prob. 103ACh. 40 - Prob. 104ACh. 40 - Prob. 105ACh. 40 - Prob. 106ACh. 40 - Simplify the following expressions. 64d69d2Ch. 40 - Prob. 108ACh. 40 - Prob. 109ACh. 40 - Prob. 110ACh. 40 - Prob. 111ACh. 40 - Prob. 112ACh. 40 - Prob. 113ACh. 40 - Rewrite the following standard form numbers in...Ch. 40 - Prob. 115ACh. 40 - Rewrite the following standard form numbers in...Ch. 40 - Rewrite the following standard form numbers in...Ch. 40 - Prob. 118ACh. 40 - Prob. 119ACh. 40 - Prob. 120ACh. 40 - Prob. 121ACh. 40 - Prob. 122ACh. 40 - Prob. 123ACh. 40 - Prob. 124ACh. 40 - Prob. 125ACh. 40 - Prob. 126ACh. 40 - Prob. 127ACh. 40 - Prob. 128ACh. 40 - Prob. 129ACh. 40 - Prob. 130ACh. 40 - Prob. 131ACh. 40 - Prob. 132ACh. 40 - Prob. 133ACh. 40 - Prob. 134ACh. 40 - Prob. 135ACh. 40 - Prob. 136ACh. 40 - Prob. 137ACh. 40 - Prob. 138ACh. 40 - Prob. 139ACh. 40 - Prob. 140ACh. 40 - Prob. 141ACh. 40 - Prob. 142ACh. 40 - Prob. 143ACh. 40 - Prob. 144ACh. 40 - Prob. 145ACh. 40 - Prob. 146ACh. 40 - Prob. 147ACh. 40 - Prob. 148ACh. 40 - Prob. 149ACh. 40 - The following problems are given in decimal...Ch. 40 - Prob. 151ACh. 40 - Prob. 152ACh. 40 - Prob. 153ACh. 40 - Prob. 154A
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