A Problem Solving Approach to Mathematics for Elementary School Teachers, Books a la Carte Edition plus NEW MyLab Math with Pearson eText - Access Card Package (12th Edition)
12th Edition
ISBN: 9780133865479
Author: Rick Billstein, Shlomo Libeskind, Johnny Lott
Publisher: PEARSON
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Chapter 5.CR, Problem 18CR
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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 5 Solutions
A Problem Solving Approach to Mathematics for Elementary School Teachers, Books a la Carte Edition plus NEW MyLab Math with Pearson eText - Access Card Package (12th Edition)
Ch. 5.1 - A turnpike driver had car trouble. He knew that he...Ch. 5.1 - Prob. 2MCCh. 5.1 - Prob. 3MCCh. 5.1 - Prob. 4MCCh. 5.1 - Prob. 5MCCh. 5.1 - Prob. 6MCCh. 5.1 - Describe a realistic word problem that models...Ch. 5.1 - Prob. 8MCCh. 5.1 - Prob. 9MCCh. 5.1 - Investigate how tides are measured and design an...
Ch. 5.1 - A fourth-grade student devised the following...Ch. 5.1 - Prob. 14MCCh. 5.1 - MATHEMATICAL CONNECTIONS A student had the...Ch. 5.1 - Prob. 16MCCh. 5.1 - Prob. 17MCCh. 5.1 - Prob. 1NAEPCh. 5.1 - Prob. 2NAEPCh. 5.1A - Find the additive inverse of each of the following...Ch. 5.1A - Simplify each of the following expressions. a. (2)...Ch. 5.1A - Evaluate each of the following expressions. a. |5|...Ch. 5.1A - Demonstrate each of the following additions using...Ch. 5.1A - Demonstrate each of the additions in Exercise 4...Ch. 5.1A - Use the absolute value definition of addition to...Ch. 5.1A - Prob. 7ACh. 5.1A - Prob. 8ACh. 5.1A - Prob. 9ACh. 5.1A - Prob. 10ACh. 5.1A - Prob. 11ACh. 5.1A - Prob. 12ACh. 5.1A - Prob. 13ACh. 5.1A - Compute each of following expression. a. 2+(310)...Ch. 5.1A - Prob. 15ACh. 5.1A - Simplify each of the following expressions as much...Ch. 5.1A - For which integers a, b and c does ab+c=a(bc)?...Ch. 5.1A - Prob. 18ACh. 5.1A - Place the integers 4,3,2,0,1,2,3,4 in the grid to...Ch. 5.1A - Let y=x1. Find the value of y in parts a-d when x...Ch. 5.1A - Determine the number of terms in the arithmetic...Ch. 5.1A - Prob. 22ACh. 5.1A - Find the sum of the terms in the following...Ch. 5.1A - How could you explain the time change from the...Ch. 5.1A - Prob. 25ACh. 5.1A - Prob. 26ACh. 5.1A - Find all integer x, if there are any, such that...Ch. 5.1A - In each of the following equations, find all...Ch. 5.1A - An arithmetic sequence may have a positive or...Ch. 5.1A - Prob. 30ACh. 5.1A - Solve the following equations. a. x+7=3 b. 10+x=7...Ch. 5.1A - Prob. 32ACh. 5.1B - ASSESSMENT Find the additive inverse of each of...Ch. 5.1B - ASSESSMENT Simplify each of the following...Ch. 5.1B - ASSESSMENT Evaluate each of the following...Ch. 5.1B - Prob. 5ACh. 5.1B - Prob. 6ACh. 5.1B - Prob. 7ACh. 5.1B - Prob. 8ACh. 5.1B - Prob. 9ACh. 5.1B - Prob. 10ACh. 5.1B - Prob. 11ACh. 5.1B - Prob. 12ACh. 5.1B - Prob. 13ACh. 5.1B - ASSESSMENT Compute each of the following. a....Ch. 5.1B - Prob. 15ACh. 5.1B - ASSESSMENT Simplify each of the following...Ch. 5.1B - Prob. 17ACh. 5.1B - Prob. 18ACh. 5.1B - Prob. 19ACh. 5.1B - ASSESSMENT Let y=3x2. Find the value of y in parts...Ch. 5.1B - Prob. 21ACh. 5.1B - Prob. 22ACh. 5.1B - Prob. 23ACh. 5.1B - Prob. 24ACh. 5.1B - Prob. 25ACh. 5.1B - ASSESSMENT Find all integers x, if there are any,...Ch. 5.1B - ASSESSMENT Let y=|x5|. Find the value of y in...Ch. 5.1B - Prob. 28ACh. 5.1B - ASSESSMENT An arithmetic sequence may have a...Ch. 5.1B - Prob. 30ACh. 5.1B - Prob. 31ACh. 5.1B - Prob. 32ACh. 5.2 - Explain whether (xy)(x+y) can be multiplied by...Ch. 5.2 - We use the equation (a+b)2=a2+2ab+b2 to find a...Ch. 5.2 - Consider the argument to show that (a)(b)=(ab) for...Ch. 5.2 - Prob. 4MCCh. 5.2 - Explain how to find the number of integers between...Ch. 5.2 - Prob. 6MCCh. 5.2 - Prob. 7MCCh. 5.2 - Prob. 8MCCh. 5.2 - Prob. 9MCCh. 5.2 - Prob. 10MCCh. 5.2 - Prob. 11MCCh. 5.2 - A seventh-grade student does not believe 52.The...Ch. 5.2 - A student computes 82(3) by writing 10(3)=30. How...Ch. 5.2 - Prob. 16MCCh. 5.2 - Mariyana felt that using absolute values with...Ch. 5.2 - Prob. 18MCCh. 5.2 - Prob. 19MCCh. 5.2 - Prob. 20MCCh. 5.2 - Prob. 21MCCh. 5.2 - Prob. 22MCCh. 5.2 - Prob. 1NAEPCh. 5.2 - Prob. 2NAEPCh. 5.2A - Use patterns to show that (1)(1)=1Ch. 5.2A - Prob. 2ACh. 5.2A - Prob. 3ACh. 5.2A - Prob. 4ACh. 5.2A - The number of students eating in the school...Ch. 5.2A - Use the definition of division to find each...Ch. 5.2A - Evaluate each of the following expressions, if...Ch. 5.2A - Evaluate each of the following products and then,...Ch. 5.2A - In each of the following, x and y are integers;y0....Ch. 5.2A - In a lab, the temperature of various chemical...Ch. 5.2A - The farmland acreage lost to family dwellings over...Ch. 5.2A - Illustrate the distributive property of...Ch. 5.2A - Compute each of the following. a. (2)3 b. (2)4 c....Ch. 5.2A - If x is an integer and x0, which of the following...Ch. 5.2A - Find all integer values of x for which the...Ch. 5.2A - Prob. 16ACh. 5.2A - Identify the property of integers being...Ch. 5.2A - Prob. 18ACh. 5.2A - Multiply each of the following and combine terms...Ch. 5.2A - Find all integers x if any each of the following....Ch. 5.2A - Use the difference-of-squares formula to simplify...Ch. 5.2A - Factor each of the following expressions...Ch. 5.2A - Prob. 23ACh. 5.2A - Prob. 24ACh. 5.2A - Find the missing terms in the following arithmetic...Ch. 5.2A - A hot air balloon descends at the rate of...Ch. 5.2A - Prob. 27ACh. 5.2B - Use patterns to show that (2)(2)=4.Ch. 5.2B - Prob. 2ACh. 5.2B - Prob. 3ACh. 5.2B - In each of the following charged-field models, the...Ch. 5.2B - Prob. 5ACh. 5.2B - Prob. 6ACh. 5.2B - Prob. 7ACh. 5.2B - Prob. 8ACh. 5.2B - Prob. 9ACh. 5.2B - Prob. 10ACh. 5.2B - Prob. 11ACh. 5.2B - Prob. 12ACh. 5.2B - Compute each of the following. a. 10312 b. 10(312)...Ch. 5.2B - Prob. 14ACh. 5.2B - Identify the property of integers being...Ch. 5.2B - Prob. 16ACh. 5.2B - Multiply each of the following and combine terms...Ch. 5.2B - Find all integers x if any that make the...Ch. 5.2B - Use the difference of squares formula to simplify...Ch. 5.2B - Factor each of the following expressions...Ch. 5.2B - Prob. 21ACh. 5.2B - In each of the following, find the next two terms....Ch. 5.2B - Prob. 23ACh. 5.2B - Prob. 24ACh. 5.2B - Prob. 25ACh. 5.2B - Prob. 26ACh. 5.2B - Prob. 27ACh. 5.CR - Find the additive inverse of each of the...Ch. 5.CR - Prob. 2CRCh. 5.CR - For each of the following, find all possible...Ch. 5.CR - Prob. 4CRCh. 5.CR - Prob. 5CRCh. 5.CR - Simplify each of the following expressions. a. 1x...Ch. 5.CR - Prob. 7CRCh. 5.CR - Prob. 8CRCh. 5.CR - Prob. 9CRCh. 5.CR - Prob. 10CRCh. 5.CR - Prob. 11CRCh. 5.CR - In each part of exercise 11, if a sequence is...Ch. 5.CR - Prob. 13CRCh. 5.CR - Prob. 14CRCh. 5.CR - Prob. 15CRCh. 5.CR - Prob. 16CRCh. 5.CR - Prob. 17CRCh. 5.CR - Prob. 18CRCh. 5.CR - Prob. 19CRCh. 5.CR - Prob. 20CRCh. 5.CR - Prob. 21CRCh. 5.CR - Prob. 22CRCh. 5.CR - Prob. 23CRCh. 5.CR - The drawing below depicts an elevator. Explain...Ch. 5.CR - Prob. 25CRCh. 5.CR - Prob. 26CRCh. 5.CR - Prob. 27CRCh. 5.CR - Prob. 28CRCh. 5.CR - Prob. 29CRCh. 5.CR - Prob. 30CRCh. 5 - Now Try this 1 Explain whether the sum of two...Ch. 5 - Prob. 2NTCh. 5 - Now Try this 2 Model the subtraction 43 on a...Ch. 5 - Prob. 4NT
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- Please solving problem2 Problem1 We consider a two-period binomial model with the following properties: each period lastsone (1) year and the current stock price is S0 = 4. On each period, the stock price doubleswhen it moves up and is reduced by half when it moves down. The annual interest rateon the money market is 25%. (This model is the same as in Prob. 1 of HW#2).We consider four options on this market: A European call option with maturity T = 2 years and strike price K = 5; A European put option with maturity T = 2 years and strike price K = 5; An American call option with maturity T = 2 years and strike price K = 5; An American put option with maturity T = 2 years and strike price K = 5.(a) Find the price at time 0 of both European options.(b) Find the price at time 0 of both American options. Compare your results with (a)and comment.(c) For each of the American options, describe the optimal exercising strategy.arrow_forwardPlease ensure that all parts of the question are answered thoroughly and clearly. Include a diagram to help explain answers. Make sure the explanation is easy to follow. Would appreciate work done written on paper. Thank you.arrow_forwardThis question builds on an earlier problem. The randomized numbers may have changed, but have your work for the previous problem available to help with this one. A 4-centimeter rod is attached at one end to a point A rotating counterclockwise on a wheel of radius 2 cm. The other end B is free to move back and forth along a horizontal bar that goes through the center of the wheel. At time t=0 the rod is situated as in the diagram at the left below. The wheel rotates counterclockwise at 1.5 rev/sec. At some point, the rod will be tangent to the circle as shown in the third picture. A B A B at some instant, the piston will be tangent to the circle (a) Express the x and y coordinates of point A as functions of t: x= 2 cos(3πt) and y= 2 sin(3t) (b) Write a formula for the slope of the tangent line to the circle at the point A at time t seconds: -cot(3πt) sin(3лt) (c) Express the x-coordinate of the right end of the rod at point B as a function of t: 2 cos(3πt) +411- 4 -2 sin (3лt) (d)…arrow_forward
- 5. [-/1 Points] DETAILS MY NOTES SESSCALCET2 6.5.AE.003. y y= ex² 0 Video Example x EXAMPLE 3 (a) Use the Midpoint Rule with n = 10 to approximate the integral कर L'ex² dx. (b) Give an upper bound for the error involved in this approximation. SOLUTION 8+2 1 L'ex² d (a) Since a = 0, b = 1, and n = 10, the Midpoint Rule gives the following. (Round your answer to six decimal places.) dx Ax[f(0.05) + f(0.15) + ... + f(0.85) + f(0.95)] 0.1 [0.0025 +0.0225 + + e0.0625 + 0.1225 e0.3025 + e0.4225 + e0.2025 + + e0.5625 €0.7225 +0.9025] The figure illustrates this approximation. (b) Since f(x) = ex², we have f'(x) = 0 ≤ f'(x) = < 6e. ASK YOUR TEACHER and f'(x) = Also, since 0 ≤ x ≤ 1 we have x² ≤ and so Taking K = 6e, a = 0, b = 1, and n = 10 in the error estimate, we see that an upper bound for the error is as follows. (Round your final answer to five decimal places.) 6e(1)3 e 24( = ≈arrow_forward1. Consider the following preference ballots: Number of voters Rankings 6 5 4 2 1st choice A DCB DC 2nd choice B B D 3rd choice DCBD 4th choice CA AAA For each of the four voting systems we have studied, determine who would win the election in each case. (Remember: For plurality with runoff, all but the top two vote-getters are simultaneously eliminated at the end of round 1.)arrow_forwardPractice k Help ises A 96 Anewer The probability that you get a sum of at least 10 is Determine the number of ways that the specified event can occur when two number cubes are rolled. 1. Getting a sum of 9 or 10 3. Getting a sum less than 5 2. Getting a sum of 6 or 7 4. Getting a sum that is odd Tell whether you would use the addition principle or the multiplication principle to determine the total number of possible outcomes for the situation described. 5. Rolling three number cubes 6. Getting a sum of 10 or 12 after rolling three number cubes A set of playing cards contains four groups of cards designated by color (black, red, yellow, and green) with cards numbered from 1 to 14 in each group. Determine the number of ways that the specified event can occur when a card is drawn from the set. 7. Drawing a 13 or 14 9. Drawing a number less than 4 8. Drawing a yellow or green card 10. Drawing a black, red, or green car The spinner is divided into equal parts. Find the specified…arrow_forward
- Problem 1.We consider a two-period binomial model with the following properties: each period lastsone (1) year and the current stock price is S0 = 4. On each period, the stock price doubleswhen it moves up and is reduced by half when it moves down. The annual interest rateon the money market is 25%. We consider four options on this market: A European call option with maturity T = 2 years and strike price K = 5; A European put option with maturity T = 2 years and strike price K = 5; An American call option with maturity T = 2 years and strike price K = 5; An American put option with maturity T = 2 years and strike price K = 5.(a) Find the price at time 0 of both European options.(b) Find the price at time 0 of both American options. Compare your results with (a)and comment.(c) For each of the American options, describe the optimal exercising strategy.(d) We assume that you sell the American put to a market participant A for the pricefound in (b). Explain how you act on the market…arrow_forwardWhat is the standard scores associated to the left of z is 0.1446arrow_forward2. [-/1 Points] DETAILS MY NOTES SESSCALCET2 6.5.015. Use the Trapezoidal Rule, the Midpoint Rule, and Simpson's Rule to approximate the given integral with the specified value of n. (Round your answers to six decimal places.) ASK YOUR TEACHER 3 1 3 + dy, n = 6 (a) the Trapezoidal Rule (b) the Midpoint Rule (c) Simpson's Rule Need Help? Read It Watch Itarrow_forward
- This question builds on an earlier problem. The randomized numbers may have changed, but have your work for the previous problem available to help with this one. A 4-centimeter rod is attached at one end to a point A rotating counterclockwise on a wheel of radius 2 cm. The other end B is free to move back and forth along a horizontal bar that goes through the center of the wheel. At time t=0 the rod is situated as in the diagram at the left below. The wheel rotates counterclockwise at 1.5 rev/sec. At some point, the rod will be tangent to the circle as shown in the third picture. B A B at some instant, the piston will be tangent to the circle (a) Express the x and y coordinates of point A as functions of t: x= 2 cos(3πt) and y= 2 sin(3πt) (b) Write a formula for the slope of the tangent line to the circle at the point A at time t seconds: -cot (3πt) (c) Express the x-coordinate of the right end of the rod at point B as a function of t: 2 cos(3πt) +41/1 (d) Express the slope of the rod…arrow_forwardConsider the proof below: Proposition: If m is an even integer, then 5m +4 is an even integer. Proof: We see that |5m+4=10n+4 = 2(5n+2). Therefore, 5m+4 is an even integer. **Note: you may assume the proof is valid, just poorly written. Based upon the Section 1.3 screencast and the reading assignment, select all writing guidelines that are missing in the proof. Proof begins by stating assumptions ✓ Proof has an invitational tone/uses collective pronouns Proof is written in complete sentences Each step is justified ☐ Proof has a clear conclusionarrow_forwardNote: The purpose of this problem below is to use computational techniques (Excelspreadsheet, Matlab, R, Python, etc.) and code the dynamic programming ideas seen inclass. Please provide the numerical answer to the questions as well as a sample of yourwork (spreadsheet, code file, etc.).We consider an N-period binomial model with the following properties: N = 60, thecurrent stock price is S0 = 1000; on each period, the stock price increases by 0.5% whenit moves up and decreases by 0.3% when it moves down. The annual interest rate on themoney market is 5%. (Notice that this model is a CRR model, which means that thebinomial tree is recombining.)(a) Find the price at time t0 = 0 of a (European) call option with strike price K = 1040and maturity T = 1 year.(b) Find the price at time t0 = 0 of a (European) put option with strike price K = 1040and maturity T = 1 year.(c) We consider now, that you are at time t5 (i.e. after 5 periods, which represents 1month later). Assume that the stock…arrow_forward
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