
Elementary Statistics (Text Only)
2nd Edition
ISBN: 9780077836351
Author: Author
Publisher: McGraw Hill
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Question
Chapter 5, Problem 15CQ
(a)
To determine
The number of ways in which 15 balls be ordered.
(b)
To determine
The number of ways in which 3 balls be ordered.
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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 5 Solutions
Elementary Statistics (Text Only)
Ch. 5.1 - In Exercises 5-8, fill in each blank with the...Ch. 5.1 - In Exercises 5-8, fill in each blank with the...Ch. 5.1 - In Exercises 5-8, fill in each blank with the...Ch. 5.1 - In Exercises 5-8, fill in each blank with the...Ch. 5.1 - In Exercises 9-12, determine whether the statement...Ch. 5.1 - In Exercises 9--12, determine whether the...Ch. 5.1 - In Exercises 9-12, determine whether the statement...Ch. 5.1 - Prob. 12ECh. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - In Exercises 13-18, assume that a fair die is...
Ch. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - In Exercises 13-18, assume that a fair die is...Ch. 5.1 - A fair coin has probability 0.5 of coming up...Ch. 5.1 - Roulette wheels in Nevada have 38 pockets. They...Ch. 5.1 - In Exercises 21-24, assume that a coin is tossed...Ch. 5.1 - In Exercises 21-24, assume that a coin is tossed...Ch. 5.1 - In Exercises 21-24, assume that a coin is tossed...Ch. 5.1 - In Exercises 21-24, assume that a coin is tossed...Ch. 5.1 - How probable is it? Someone computes the...Ch. 5.1 - Do you know SpongeBob? According to a survey by...Ch. 5.1 - Who will you vote for? In a survey of 500 likely...Ch. 5.1 - Job satisfaction: In a poll conducted by the...Ch. 5.1 - True-false exam: A section of an exam contains...Ch. 5.1 - A coin flip: A coil is tossed twee times. The...Ch. 5.1 - Empirical Method: A coin is tossed 400 times and...Ch. 5.1 - Empirical Method: A die is rolled 600 times. On 85...Ch. 5.1 - Pitching: During a recent season, pitcher Clayton...Ch. 5.1 - More Pitching: During a recent season, pitcher Jon...Ch. 5.1 - Risky drivers: An automobile insurance company...Ch. 5.1 - Prob. 36ECh. 5.1 - Roulette: A Nevada roulette wheel has 38 pockets....Ch. 5.1 - More roulette: Refer to Exercise 37. What is the...Ch. 5.1 - Get an education: The General Social Survey asked...Ch. 5.1 - How many kids? The General Social Survey asked...Ch. 5.1 - Hospital visits: According to Agency for...Ch. 5.1 - Prob. 42ECh. 5.1 - Prob. 43ECh. 5.1 - Prob. 44ECh. 5.1 - Prob. 45ECh. 5.1 - Find the probability: What is the probability that...Ch. 5.1 - Find the probability: What is the probability that...Ch. 5.1 - Prob. 48ECh. 5.1 - Prob. 49ECh. 5.1 - Prob. 50ECh. 5.1 - Prob. 51ECh. 5.2 - In Exercises 5-8, fill in each blank with the...Ch. 5.2 - In Exercises 5-8, fill in each blank with the...Ch. 5.2 - In Exercises 5-8, fill in each blank with the...Ch. 5.2 - In Exercises 5-8, fill in each blank with the...Ch. 5.2 - In Exercises 9-12, determine whether the statement...Ch. 5.2 - In Exercises 9-12, determine whether the statement...Ch. 5.2 - In Exercises 9-12, determine whether the statement...Ch. 5.2 - In Exercises 9-12, determine whether the statement...Ch. 5.2 - If P(A)=0.75,P(B)=0.4, and P(AandB)=0.25, and...Ch. 5.2 - If P(A)=0.45,P(B)=0.7, and P(AandB)=0.65, find...Ch. 5.2 - If P(A)=0.2,P(B)=0.5, and A and B are mutually...Ch. 5.2 - If P(A)=0.7,P(B)=0.1, and A and B are mutually...Ch. 5.2 - If P(A)=0.3,P(B)=0.4, and P(A and B =0.7, are A...Ch. 5.2 - If P(A)=0.5,P(B)=0.4, and P(A and B =0.8, are A...Ch. 5.2 - If P(A)=0.35, find P(AC).Ch. 5.2 - If P(B)=0.6, find P(BC).Ch. 5.2 - If P(AC)=0.27, find P(A).Ch. 5.2 - If P(BC)=0.64, find P(B).Ch. 5.2 - If P(A)=0, find P(AC).Ch. 5.2 - If P(A)=P(AC), find P(A).Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 25-30, determine whether events A and...Ch. 5.2 - In Exercises 31 and 32, find the complements of...Ch. 5.2 - In Exercises 31 and 32, find the complements of...Ch. 5.2 - Traffic lights: A commuter passes through two...Ch. 5.2 - Dice: Two fair dice are rolled. The first die is...Ch. 5.2 - Car repairs: Let E be the event that a new car...Ch. 5.2 - Sick computers: Let V be the event that a computer...Ch. 5.2 - Computer purchases: Out of 800 large purchases...Ch. 5.2 - Visit your local library: On a recent Saturday. a...Ch. 5.2 - How are your grades? In a recent semester at a...Ch. 5.2 - Statistics grades: In a statistics class of 30...Ch. 5.2 - Sick children: There are 25 students in Mrs. Bushs...Ch. 5.2 - Flawed parts: On a certain day, a foundry...Ch. 5.2 - Prob. 43ECh. 5.2 - The following table presents the number of reports...Ch. 5.2 - Add probabilities? In a certain community, 28% of...Ch. 5.2 - Add probabilities? According to the National...Ch. 5.2 - Prob. 47ECh. 5.2 - Prob. 48ECh. 5.3 - In Exercises 7-10, fill in each blank with the...Ch. 5.3 - In Exercises 7-10, fill in each blank with the...Ch. 5.3 - In Exercises 7-10, fill in each blank with the...Ch. 5.3 - In Exercises 7-10, fill in each blank with the...Ch. 5.3 - Prob. 11ECh. 5.3 - Prob. 12ECh. 5.3 - Prob. 13ECh. 5.3 - Prob. 14ECh. 5.3 - Let A and B be events with P(A)=0.4,P(B)=0.7, and...Ch. 5.3 - Let A and B be events with P(A)=0.6,P(B)=0.4, and...Ch. 5.3 - Let A and B be events with P(A)=0.2 and P(B)=0.9....Ch. 5.3 - Let A and B be events with P(A)=0.5 and P(B)=0.7....Ch. 5.3 - Let A and B be events with P(A)=0.8,P(B)=0.1, and...Ch. 5.3 - Let A and B be events with P(A)=0.3,P(B)=0.5, and...Ch. 5.3 - Let A, B, and C be independent events with...Ch. 5.3 - Let A, B, and C be independent events with...Ch. 5.3 - A fair is tossed four times. What is the...Ch. 5.3 - A fair coin is tossed four times. What is the...Ch. 5.3 - A fair die is rolled three times. What is the...Ch. 5.3 - A fair die is rolled three times. What is the...Ch. 5.3 - In Exercises 27-30, assume that a student is...Ch. 5.3 - In Exercises 27-30, assume that a student is...Ch. 5.3 - In Exercises 27-30, assume that a student is...Ch. 5.3 - In Exercises 27-30, assume that a student is...Ch. 5.3 - Let A and B be events with P(A)=0.25,P(B)=0.4, and...Ch. 5.3 - Let A and B be events with P(A)=0.6,P(B)=0.9, and...Ch. 5.3 - Let A and B be events with P(A)=0.4,P(B)=0.5, and...Ch. 5.3 - Let A and B be events with P(A)=0.5,P(B)=0.3, and...Ch. 5.3 - A fair die is rolled three times. What is the...Ch. 5.3 - Prob. 36ECh. 5.3 - Job interview: Seven people, named Anna, Bob,...Ch. 5.3 - Shuffle: Charles has songs on a playlist. Each...Ch. 5.3 - Lets eat: A fast-food restaurant chain has 600...Ch. 5.3 - U.S. senators: The following table displays the...Ch. 5.3 - Genetics: A geneticist is studying two genes. Each...Ch. 5.3 - Quality control: A population of 600 semiconductor...Ch. 5.3 - Stay in school: In a recent school year in the...Ch. 5.3 - Management: The Bureau of Labor Statistics...Ch. 5.3 - GED: In a certain school. the probability that a...Ch. 5.3 - Prob. 46ECh. 5.3 - New car: At a certain car dealership, the...Ch. 5.3 - Prob. 48ECh. 5.3 - Target practice: Laura and Philip each fire one...Ch. 5.3 - Bowling: Sarah and Thomas are going bowling. The...Ch. 5.3 - Defective components: A lot of 10 components...Ch. 5.3 - More defective components: A lot of 1000...Ch. 5.3 - Prob. 53ECh. 5.3 - Multiply probabilities? A traffic light at an...Ch. 5.3 - Lottery: Every day: Jorge buys a lottery ticket....Ch. 5.3 - Car warranty: The a certain make of car will need...Ch. 5.3 - Tic-tac-toe: In the game of tic-tac-toe, fall...Ch. 5.3 - Enter your PIN: The technology consulting company...Ch. 5.3 - Prob. 59ECh. 5.3 - Prob. 60ECh. 5.3 - Prob. 61ECh. 5.3 - Prob. 62ECh. 5.3 - Prob. 63ECh. 5.3 - Prob. 64ECh. 5.3 - Prob. 65ECh. 5.4 - In Exercises 7 and 8, fill in the blank with the...Ch. 5.4 - In Exercises 7 and 8, fill in the blank with the...Ch. 5.4 - Prob. 9ECh. 5.4 - Exercises 9 and 10, determine whether the...Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 9!Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 5!Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 0!Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 12!Ch. 5.4 - In Exercises 11-16, evaluate the factorial. 1!Ch. 5.4 - Prob. 16ECh. 5.4 - In Exercises 17-22, evaluate the permutation. 7P3Ch. 5.4 - In Exercises 17-22, evaluate the permutation. 8P1Ch. 5.4 - In Exercises 17-22, evaluate the permutation....Ch. 5.4 - In Exercises 17-22, evaluate the permutation. 5P4Ch. 5.4 - In Exercises 17-22, evaluate the permutation. 20P0Ch. 5.4 - In Exercises 17-22, evaluate the permutation. 45P5Ch. 5.4 - In Exercises 23-28, evaluate the combination. 9C5Ch. 5.4 - In Exercises 23-28, evaluate the combination. 7C1Ch. 5.4 - Prob. 25ECh. 5.4 - Prob. 26ECh. 5.4 - In Exercises 23-28, evaluate the combination. 12C0Ch. 5.4 - Prob. 28ECh. 5.4 - Pizza time: A local pizza parlor is offering a...Ch. 5.4 - Books: Josephine has chemistry books, three...Ch. 5.4 - Playing the horses: In horseracing, one can make a...Ch. 5.4 - Ice cream: A certain ice cream parlor offers 15...Ch. 5.4 - License plates: In a certain state, license plates...Ch. 5.4 - Committee: The Student Council at a certain school...Ch. 5.4 - Day and night shifts: A company has hired 12 new...Ch. 5.4 - Keep your password safe: A computer password...Ch. 5.4 - Its in your genes: Hunan genetic material ONA) is...Ch. 5.4 - Choosing officers: A committee consists of 10...Ch. 5.4 - Texas hold'em, In the game of Texas hold'em, a...Ch. 5.4 - Blackjack: In single-deck casino blackjack the...Ch. 5.4 - Lottery: In the Georgia Fantasy 5 Lottery, balls...Ch. 5.4 - Prob. 42ECh. 5.4 - Prob. 43ECh. 5 - Fill in the blank: The probability that a fair...Ch. 5 - Prob. 2CQCh. 5 - State each of the following rules: General...Ch. 5 - Prob. 4CQCh. 5 - Prob. 5CQCh. 5 - In a group of 100 teenagers, 61 received their...Ch. 5 - A certain has 100 households. Forty-eight...Ch. 5 - Prob. 8CQCh. 5 - Prob. 9CQCh. 5 - Prob. 10CQCh. 5 - Prob. 11CQCh. 5 - Prob. 12CQCh. 5 - Prob. 13CQCh. 5 - Prob. 14CQCh. 5 - Prob. 15CQCh. 5 - Prob. 1RECh. 5 - Prob. 2RECh. 5 - Statistics, anyone? Let S be the event that a...Ch. 5 - Prob. 4RECh. 5 - Prob. 5RECh. 5 - Prob. 6RECh. 5 - Defective parts: A process manufactures...Ch. 5 - Music to my ears: Jeri is listening to songs on a...Ch. 5 - Prob. 9RECh. 5 - Heart attack: The following table presents the...Ch. 5 - Rainy weekend: Sally is planning to go away for...Ch. 5 - Prob. 12RECh. 5 - Required courses: Refer to Exercise 12. Assume the...Ch. 5 - Bookshelf: Bart has books: a novel, a biography, a...Ch. 5 - Prob. 15RECh. 5 - Prob. 1WAICh. 5 - Prob. 2WAICh. 5 - Prob. 3WAICh. 5 - Prob. 4WAICh. 5 - Sometimes events are in the form at least a given...Ch. 5 - Prob. 6WAICh. 5 - Prob. 7WAICh. 5 - Prob. 8WAICh. 5 - The following table is a life table, reproduced...Ch. 5 - Prob. 2CSCh. 5 - Prob. 3CSCh. 5 - The following table is a life table, reproduced...Ch. 5 - The following table is a life table, reproduced...Ch. 5 - Prob. 6CSCh. 5 - Prob. 7CSCh. 5 - In Exercise 1-5, we computed the probability that...Ch. 5 - Prob. 9CS
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