ELEM.STAT.-MYSTATLAB-ACCESS+EBOOK
13th Edition
ISBN: 9781323902653
Author: Triola
Publisher: PEARSON
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Chapter 5.2, Problem 13BSC
Binomial
13. Guessing Answers Standard tests, such as the SAT, ACT, or Medical College Admission Test (MCAT), typically use multiple choice questions, each with five possible answers (a, b, c, d, e), one of which is correct. Assume that you guess the answers to the first three questions.
a. Use the multiplication rule to find the probability that the first two guesses are wrong and the third is correct. That is, find P(WWC), where W denotes a wrong answer and C denotes a correct answer.
b. Beginning with WWC, make a complete list of the different possible arrangements of two wrong answers and one correct answer, then find the probability for each entry in the list.
c. Based on the preceding results, what is the probability of getting exactly one correct answer when three guesses are made?
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We consider the one-period model studied in class as an example. Namely, we assumethat the current stock price is S0 = 10. At time T, the stock has either moved up toSt = 12 (with probability p = 0.6) or down towards St = 8 (with probability 1−p = 0.4).We consider a call option on this stock with maturity T and strike price K = 10. Theinterest rate on the money market is zero.As in class, we assume that you, as a customer, are willing to buy the call option on100 shares of stock for $120. The investor, who sold you the option, can adopt one of thefollowing strategies: Strategy 1: (seen in class) Buy 50 shares of stock and borrow $380. Strategy 2: Buy 55 shares of stock and borrow $430. Strategy 3: Buy 60 shares of stock and borrow $480. Strategy 4: Buy 40 shares of stock and borrow $280.(a) For each of strategies 2-4, describe the value of the investor’s portfolio at time 0,and at time T for each possible movement of the stock.(b) For each of strategies 2-4, does the investor have…
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Chapter 5 Solutions
ELEM.STAT.-MYSTATLAB-ACCESS+EBOOK
Ch. 5.1 - Random Variable The accompanying table lists...Ch. 5.1 - Discrete or Continuous? Is the random variable...Ch. 5.1 - Probability Distribution For the accompanying...Ch. 5.1 - Significant For 100 births, P(exactly 56 girls) =...Ch. 5.1 - Identifying Discrete and Continuous Random...Ch. 5.1 - Identifying Discrete and Continuous Random...Ch. 5.1 - Identifying Probability Distributions. In...Ch. 5.1 - Identifying Probability Distributions. In...Ch. 5.1 - Identifying Probability Distributions. In...Ch. 5.1 - Identifying Probability Distributions. In...
Ch. 5.1 - Identifying Probability Distributions. In...Ch. 5.1 - Identifying Probability Distributions. In...Ch. 5.1 - Identifying Probability Distributions. In...Ch. 5.1 - Identifying Probability Distributions. In...Ch. 5.1 - Genetics. In Exercises 1520, refer to the...Ch. 5.1 - Genetics. In Exercises 1520, refer to the...Ch. 5.1 - Genetics. In Exercises 1520, refer to the...Ch. 5.1 - Genetics. In Exercises 1520, refer to the...Ch. 5.1 - Genetics. In Exercises 1520, refer to the...Ch. 5.1 - Genetics. In Exercises 1520, refer to the...Ch. 5.1 - Sleepwalking. In Exercises 2125, refer to the...Ch. 5.1 - Sleepwalking. In Exercises 2125, refer to the...Ch. 5.1 - Sleepwalking. In Exercises 2125, refer to the...Ch. 5.1 - Sleepwalking. In Exercises 2125, refer to the...Ch. 5.1 - Sleepwalking. 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