EBK FINITE MATHEMATICS FOR THE MANAGERI
12th Edition
ISBN: 8220103649001
Author: Tan
Publisher: CENGAGE L
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Chapter 6.1, Problem 41E
To determine
(a)
The meaning of set
To determine
(b)
The meaning of set
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Chapter 6 Solutions
EBK FINITE MATHEMATICS FOR THE MANAGERI
Ch. 6.1 - Prob. 1CQCh. 6.1 - Prob. 2CQCh. 6.1 - Prob. 3CQCh. 6.1 - Prob. 1ECh. 6.1 - Prob. 2ECh. 6.1 - Prob. 3ECh. 6.1 - Prob. 4ECh. 6.1 - Prob. 5ECh. 6.1 - Prob. 6ECh. 6.1 - Prob. 7E
Ch. 6.1 - Prob. 8ECh. 6.1 - In Exercises 9-14, state whether the statements...Ch. 6.1 - Prob. 10ECh. 6.1 - Prob. 11ECh. 6.1 - Prob. 12ECh. 6.1 - Prob. 13ECh. 6.1 - Prob. 14ECh. 6.1 - Prob. 15ECh. 6.1 - Prob. 16ECh. 6.1 - Prob. 17ECh. 6.1 - Prob. 18ECh. 6.1 - Prob. 19ECh. 6.1 - Prob. 20ECh. 6.1 - Prob. 21ECh. 6.1 - Prob. 22ECh. 6.1 - Prob. 23ECh. 6.1 - Prob. 24ECh. 6.1 - Prob. 25ECh. 6.1 - Let U denotes the set of all students who applied...Ch. 6.1 - In Exercise 27-28, write an expression describing...Ch. 6.1 - In Exercise 27-28, write an expression describing...Ch. 6.1 - Prob. 29ECh. 6.1 - Prob. 30ECh. 6.1 - Prob. 31ECh. 6.1 - Prob. 32ECh. 6.1 - Prob. 33ECh. 6.1 - Prob. 34ECh. 6.1 - Prob. 35ECh. 6.1 - Prob. 36ECh. 6.1 - In Exercise 35-38, let U={1,2,3,4,5,6,7,8,9,10},...Ch. 6.1 - Prob. 38ECh. 6.1 - Prob. 39ECh. 6.1 - Prob. 40ECh. 6.1 - Prob. 41ECh. 6.1 - Prob. 42ECh. 6.1 - Prob. 43ECh. 6.1 - Prob. 44ECh. 6.1 - Prob. 45ECh. 6.1 - Prob. 46ECh. 6.1 - Prob. 47ECh. 6.1 - Prob. 48ECh. 6.1 - Prob. 49ECh. 6.1 - Prob. 50ECh. 6.1 - Prob. 51ECh. 6.1 - Prob. 52ECh. 6.1 - BEST U.S. CITY FOR ITALIAN RESTAURANTS In a reader...Ch. 6.1 - INVENTORY Loss The biggest cause of inventory...Ch. 6.1 - Prob. 55ECh. 6.1 - Prob. 56ECh. 6.1 - Prob. 57ECh. 6.1 - Prob. 58ECh. 6.1 - Prob. 59ECh. 6.1 - Prob. 60ECh. 6.1 - Prob. 61ECh. 6.1 - Prob. 62ECh. 6.1 - Prob. 63ECh. 6.1 - Prob. 64ECh. 6.1 - Prob. 65ECh. 6.1 - Prob. 66ECh. 6.1 - Prob. 67ECh. 6.1 - Prob. 68ECh. 6.1 - Prob. 69ECh. 6.1 - Prob. 70ECh. 6.1 - Prob. 71ECh. 6.1 - Prob. 72ECh. 6.1 - Prob. 73ECh. 6.1 - Prob. 74ECh. 6.1 - In Exercise 71-80, determine whether the statement...Ch. 6.1 - Prob. 76ECh. 6.1 - Prob. 77ECh. 6.1 - Prob. 78ECh. 6.1 - Prob. 79ECh. 6.1 - Prob. 80ECh. 6.2 - Prob. 1CQCh. 6.2 - Prob. 2CQCh. 6.2 - Prob. 1ECh. 6.2 - Prob. 2ECh. 6.2 - Prob. 3ECh. 6.2 - Prob. 4ECh. 6.2 - Prob. 5ECh. 6.2 - Prob. 6ECh. 6.2 - If n(A)=15, n(AB)=5 and n(AB)=30, then what is...Ch. 6.2 - Prob. 8ECh. 6.2 - Prob. 9ECh. 6.2 - Prob. 10ECh. 6.2 - Prob. 11ECh. 6.2 - Prob. 12ECh. 6.2 - Prob. 13ECh. 6.2 - Prob. 14ECh. 6.2 - Prob. 15ECh. 6.2 - Prob. 16ECh. 6.2 - Prob. 17ECh. 6.2 - NEWSPAPER SUBSCRIBERS A survey of 1000 subscribers...Ch. 6.2 - JAIL INMATES On a certain day, the Wilton County...Ch. 6.2 - Of 100 clock radios with digital tuners and/or CD...Ch. 6.2 - COMPTER OWNERSHIP A survey of 100 college students...Ch. 6.2 - Prob. 22ECh. 6.2 - BRAND PREFERENCES OF CONSUMERS In a survey of 120...Ch. 6.2 - SPORTS CLUB SURVEY In a survey of 200 members of a...Ch. 6.2 - INVESTORS' USAGE OF BROKERS In a poll conducted...Ch. 6.2 - COMMUTER TRENDS Of 50 employees of a store located...Ch. 6.2 - CONSUMER SURVEY OF DESKTOP AND TABLET COMPUTER...Ch. 6.2 - CONSUMER SURVEY OF HDTV AND MP3 PLAYER OWNERS In a...Ch. 6.2 - Prob. 29ECh. 6.2 - Prob. 30ECh. 6.2 - Prob. 31ECh. 6.2 - In Exercises 3134, use the given information to...Ch. 6.2 - In Exercises 3134, use the given information to...Ch. 6.2 - Prob. 34ECh. 6.2 - Prob. 35ECh. 6.2 - Prob. 36ECh. 6.2 - Prob. 37ECh. 6.2 - Prob. 38ECh. 6.2 - Prob. 39ECh. 6.2 - BRAND SWITCHING AMONG FEMALE COLLEGE STUDENTSIn a...Ch. 6.2 - Prob. 41ECh. 6.2 - FEDERAL BUDGET ALLOCATION According to the Office...Ch. 6.2 - SURVEY OF LEADING ECONOMISTS A survey of the...Ch. 6.2 - STUDENT DROPOUT RATE Data released by the...Ch. 6.2 - STUDENT MAGAZINE PREFERENCES A survey of 100...Ch. 6.2 - SAT SCORES Results of a Department of Education...Ch. 6.2 - BRAND PREFERENCES OF CONSUMERS The 120 consumers...Ch. 6.2 - CAFETERIA STUDENT USAGE To help plan the number of...Ch. 6.2 - 401k INVESTMENTS In a survey of 200 employees of a...Ch. 6.2 - NEWSPAPER PREFERENCES OF INVESTORS In a survey of...Ch. 6.2 - Prob. 51ECh. 6.2 - Prob. 52ECh. 6.2 - Prob. 53ECh. 6.2 - Prob. 54ECh. 6.2 - Prob. 55ECh. 6.2 - Prob. 56ECh. 6.3 - Explain the multiplication principle, and...Ch. 6.3 - Prob. 2CQCh. 6.3 - RENTAL RATES Lynbrook West, an apartment complex...Ch. 6.3 - COMMUTER PASSES Five different types of monthly...Ch. 6.3 - BLACKJACK In the game of blackjack, a 2-card hand...Ch. 6.3 - Prob. 4ECh. 6.3 - WARDROBE SELECTION A female executive selecting...Ch. 6.3 - COMMUTER OPTIONS Four commuter trains and three...Ch. 6.3 - PSYCHOLOGY EXPERIMENTS A psychologist has...Ch. 6.3 - Prob. 8ECh. 6.3 - HEALTH-CARE PLAN OPTIONS A new state employee is...Ch. 6.3 - CODE WORDS How many three-letter code words can be...Ch. 6.3 - Prob. 11ECh. 6.3 - MENU CHOICES The New Shanghai Restaurant offers a...Ch. 6.3 - CHOOSING A PIN Janice needs to make up a personal...Ch. 6.3 - MENU CHOICES Marias Trattoria offers mushrooms,...Ch. 6.3 - Prob. 15ECh. 6.3 - CHOOSING A DRIVER Five friends are leaving a bar...Ch. 6.3 - WRITTEN DRIVERs TEST The California drivers...Ch. 6.3 - BUILDING A PICKUP TRUCK The 2017 Sierra 1500...Ch. 6.3 - Prob. 19ECh. 6.3 - Prob. 20ECh. 6.3 - Prob. 21ECh. 6.3 - SERIAL NUMBERS Computers manufactured by a certain...Ch. 6.3 - COMPUTER DATING A computer dating service uses the...Ch. 6.3 - AUTOMOBILE COLOR AND TRIM CHOICES The 2017 BMW...Ch. 6.3 - AUTOMOBILE OPTIONS The 2017 Toyota Camry comes...Ch. 6.3 - TELEVISION-VIEWING POLLS An opinion poll is to be...Ch. 6.3 - LICENSE PLATE NUMBERS Over the years, the state of...Ch. 6.3 - POLITICAL POLLS An opinion poll was conducted by...Ch. 6.3 - LICENSE PLATE NUMBERS In recent years, the state...Ch. 6.3 - Exams An exam consists of ten true-or-false...Ch. 6.3 - WARRANTY NUMBERS A warranty identification number...Ch. 6.3 - CHOOSING A PASSWORD A password is to be made from...Ch. 6.3 - LOTTERIES In a state lottery, there are 15...Ch. 6.3 - COMBINATION LOCKS A rolling combination four-digit...Ch. 6.3 - COMBINATION LOCKS Lugano Leather Company makes an...Ch. 6.3 - TELEPHONE NUMBERS a. How many seven-digit...Ch. 6.3 - SLOT MACHINES A "lucky dollar" is one of the nine...Ch. 6.3 - STAFFING Student Painters, which specializes in...Ch. 6.3 - Prob. 39ECh. 6.3 - In Exercises 39 and 40, determine whether the...Ch. 6.4 - a. What is a permutation of a set of distinct...Ch. 6.4 - Prob. 2CQCh. 6.4 - a. How many combinations are there of a set of n...Ch. 6.4 - Prob. 1ECh. 6.4 - Prob. 2ECh. 6.4 - Prob. 3ECh. 6.4 - Prob. 4ECh. 6.4 - Prob. 5ECh. 6.4 - In Exercises 1-22, evaluate the given expression....Ch. 6.4 - Prob. 7ECh. 6.4 - Prob. 8ECh. 6.4 - Prob. 9ECh. 6.4 - In Exercises 1-22, evaluate the given expression....Ch. 6.4 - In Exercises 1-22, evaluate the given expression....Ch. 6.4 - Prob. 12ECh. 6.4 - Prob. 13ECh. 6.4 - Prob. 14ECh. 6.4 - Prob. 15ECh. 6.4 - In Exercises 1-22, evaluate the given expression....Ch. 6.4 - Prob. 17ECh. 6.4 - Prob. 18ECh. 6.4 - Prob. 19ECh. 6.4 - Prob. 20ECh. 6.4 - In Exercise 1-22, evaluate the given expression....Ch. 6.4 - Prob. 22ECh. 6.4 - In Exercises 23-30, classify each problem...Ch. 6.4 - In Exercises 23-30, classify each problem...Ch. 6.4 - Prob. 25ECh. 6.4 - Prob. 26ECh. 6.4 - Prob. 27ECh. 6.4 - Prob. 28ECh. 6.4 - Prob. 29ECh. 6.4 - In Exercises 23-30, classify each problem...Ch. 6.4 - Prob. 31ECh. 6.4 - How many three-letter permutations can be formed...Ch. 6.4 - In how many ways can four students be seated in a...Ch. 6.4 - In how many ways can five people line up at a...Ch. 6.4 - Prob. 35ECh. 6.4 - In how many ways can the names of six candidates...Ch. 6.4 - In how many ways can a member of a hiring...Ch. 6.4 - In how many ways can an investor select four...Ch. 6.4 - Find the number of distinguishable permutations...Ch. 6.4 - Find the number of distinguishable permutations...Ch. 6.4 - In how many ways can the letters of the website...Ch. 6.4 - In how many ways can five people boarding a bus be...Ch. 6.4 - Prob. 43ECh. 6.4 - How many different signals can be made by hoisting...Ch. 6.4 - SUPERMARKET SITE SELECTION In how many ways can a...Ch. 6.4 - SELECTING A READING LIST A student is given a...Ch. 6.4 - QUALITY CONTROL In how many ways can a...Ch. 6.4 - STUDY GROUP ASSIGNMENTS A group of five students...Ch. 6.4 - TELEVISION PROGRAMMING In how many ways can a...Ch. 6.4 - WAITING LINES Seven people arrive at the ticket...Ch. 6.4 - SELECTING A SPECIAL OCCASION CAKE Fosselmans Ice...Ch. 6.4 - WEDDING CATERING L.A. Wedding Caterers offers a...Ch. 6.4 - MENU CHOICES Buca di Beppo, an Italian restaurant,...Ch. 6.4 - MANAGEMENT DECISIONS Weaver and Kline, a stock...Ch. 6.4 - CAR POOLS A company car that has a seating...Ch. 6.4 - Prob. 56ECh. 6.4 - TRAVEL WARDROBE Kaylee is planning a wardrobe for...Ch. 6.4 - Criminology The town of Carson employs 15 police...Ch. 6.4 - Book Exhibitions At a college library exhibition...Ch. 6.4 - CONCERT SEATING In how many ways can four married...Ch. 6.4 - Prob. 61ECh. 6.4 - Prob. 62ECh. 6.4 - NEWSPAPER ADS Four items from five different...Ch. 6.4 - MANAGEMENT DECISIONS C ** J Realty has received 12...Ch. 6.4 - SELECTING A BASEBALL TEAM A Little League baseball...Ch. 6.4 - TENNIS MATCH In the mens tennis tournament at...Ch. 6.4 - Prob. 67ECh. 6.4 - JURY SELECTION In how many different ways can a...Ch. 6.4 - Prob. 69ECh. 6.4 - EXAMS A student taking an examination is required...Ch. 6.4 - TEACHING ASSISTANTSHIPS Twelve graduate students...Ch. 6.4 - SENATE COMMITTIES In how many ways can a...Ch. 6.4 - CONTRACT BIDDING UBS Television Company is...Ch. 6.4 - PERSONNEL SELECTION JCL. Computers has five...Ch. 6.4 - Prob. 75ECh. 6.4 - WRITTEN DRIVERS TEST A state Motor Vehicle...Ch. 6.4 - Prob. 77ECh. 6.4 - Prob. 78ECh. 6.4 - Prob. 79ECh. 6.4 - Prob. 80ECh. 6.4 - Prob. 81ECh. 6.4 - Prob. 82ECh. 6.4 - Prob. 83ECh. 6.4 - WORLD SERIES In the World Series, one National...Ch. 6.4 - VOTING QUORUMS A quorum minimum of 6 voting...Ch. 6.4 - Prob. 86ECh. 6.4 - Prob. 87ECh. 6.4 - Prob. 88ECh. 6.4 - Prob. 91ECh. 6.4 - Prob. 92ECh. 6.4 - Prob. 93ECh. 6.4 - Prob. 94ECh. 6.4 - Prob. 1TECh. 6.4 - Prob. 2TECh. 6.4 - Prob. 3TECh. 6.4 - Prob. 4TECh. 6.4 - Prob. 5TECh. 6.4 - Prob. 6TECh. 6.4 - In Exercises 110, evaluate the expression. C(52,7)Ch. 6.4 - Prob. 8TECh. 6.4 - In Exercises 110, evaluate the expression....Ch. 6.4 - In Exercises 110, evaluate the expression....Ch. 6.4 - Prob. 11TECh. 6.4 - Prob. 12TECh. 6.CRQ - Fill in the blanks. A well-defined collection of...Ch. 6.CRQ - Prob. 2CRQCh. 6.CRQ - Prob. 3CRQCh. 6.CRQ - Prob. 4CRQCh. 6.CRQ - Prob. 5CRQCh. 6.CRQ - Prob. 6CRQCh. 6.CRQ - Prob. 7CRQCh. 6.CRQ - Prob. 8CRQCh. 6.CRE - Prob. 1CRECh. 6.CRE - Prob. 2CRECh. 6.CRE - Prob. 3CRECh. 6.CRE - Prob. 4CRECh. 6.CRE - Prob. 5CRECh. 6.CRE - Prob. 6CRECh. 6.CRE - Prob. 7CRECh. 6.CRE - Prob. 8CRECh. 6.CRE - Prob. 9CRECh. 6.CRE - Prob. 10CRECh. 6.CRE - Prob. 11CRECh. 6.CRE - Prob. 12CRECh. 6.CRE - Prob. 13CRECh. 6.CRE - Prob. 14CRECh. 6.CRE - Prob. 15CRECh. 6.CRE - Prob. 16CRECh. 6.CRE - Prob. 17CRECh. 6.CRE - Prob. 18CRECh. 6.CRE - Prob. 19CRECh. 6.CRE - Prob. 20CRECh. 6.CRE - Prob. 21CRECh. 6.CRE - Prob. 22CRECh. 6.CRE - Prob. 23CRECh. 6.CRE - Prob. 24CRECh. 6.CRE - Prob. 25CRECh. 6.CRE - Let A and B be subsets of a universal set U and...Ch. 6.CRE - Prob. 27CRECh. 6.CRE - Prob. 28CRECh. 6.CRE - Prob. 29CRECh. 6.CRE - Prob. 30CRECh. 6.CRE - CREDIT CARD COMPARISONS A comparison of five major...Ch. 6.CRE - STUDENT SURVEYS The Department of Foreign...Ch. 6.CRE - In how many ways can six different DVDs be...Ch. 6.CRE - Prob. 34CRECh. 6.CRE - In how many ways can six different books, four of...Ch. 6.CRE - Prob. 36CRECh. 6.CRE - Find the number of distinguishable permutations...Ch. 6.CRE - Prob. 38CRECh. 6.CRE - AUTOMOBILE SELECTION An automobile manufacturer...Ch. 6.CRE - MENU SELECTIONS Two soups, five entres, and three...Ch. 6.CRE - Prob. 41CRECh. 6.CRE - POKER From a standard 52-card deck, how many...Ch. 6.CRE - Prob. 43CRECh. 6.CRE - TEAM SELECTION There are eight seniors and six...Ch. 6.CRE - Prob. 45CRECh. 6.CRE - SEATING ARRANGEMENTS In how many ways can seven...Ch. 6.CRE - Prob. 47CRECh. 6.CRE - Prob. 48CRECh. 6.CRE - Prob. 49CRECh. 6.CRE - Prob. 50CRECh. 6.BMO - Prob. 1BMOCh. 6.BMO - Prob. 2BMOCh. 6.BMO - In how many ways can four compact discs be...Ch. 6.BMO - Prob. 4BMOCh. 6.BMO - Prob. 5BMO
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- Question 2. An American option on a stock has payoff given by F = f(St) when it is exercised at time t. We know that the function f is convex. A person claims that because of convexity, it is optimal to exercise at expiration T. Do you agree with them?arrow_forwardQuestion 4. We consider a CRR model with So == 5 and up and down factors u = 1.03 and d = 0.96. We consider the interest rate r = 4% (over one period). Is this a suitable CRR model? (Explain your answer.)arrow_forwardQuestion 3. We want to price a put option with strike price K and expiration T. Two financial advisors estimate the parameters with two different statistical methods: they obtain the same return rate μ, the same volatility σ, but the first advisor has interest r₁ and the second advisor has interest rate r2 (r1>r2). They both use a CRR model with the same number of periods to price the option. Which advisor will get the larger price? (Explain your answer.)arrow_forward
- Question 5. We consider a put option with strike price K and expiration T. This option is priced using a 1-period CRR model. We consider r > 0, and σ > 0 very large. What is the approximate price of the option? In other words, what is the limit of the price of the option as σ∞. (Briefly justify your answer.)arrow_forwardQuestion 6. You collect daily data for the stock of a company Z over the past 4 months (i.e. 80 days) and calculate the log-returns (yk)/(-1. You want to build a CRR model for the evolution of the stock. The expected value and standard deviation of the log-returns are y = 0.06 and Sy 0.1. The money market interest rate is r = 0.04. Determine the risk-neutral probability of the model.arrow_forwardSeveral markets (Japan, Switzerland) introduced negative interest rates on their money market. In this problem, we will consider an annual interest rate r < 0. We consider a stock modeled by an N-period CRR model where each period is 1 year (At = 1) and the up and down factors are u and d. (a) We consider an American put option with strike price K and expiration T. Prove that if <0, the optimal strategy is to wait until expiration T to exercise.arrow_forward
- We consider an N-period CRR model where each period is 1 year (At = 1), the up factor is u = 0.1, the down factor is d = e−0.3 and r = 0. We remind you that in the CRR model, the stock price at time tn is modeled (under P) by Sta = So exp (μtn + σ√AtZn), where (Zn) is a simple symmetric random walk. (a) Find the parameters μ and σ for the CRR model described above. (b) Find P Ste So 55/50 € > 1). StN (c) Find lim P 804-N (d) Determine q. (You can use e- 1 x.) Ste (e) Find Q So (f) Find lim Q 004-N StN Soarrow_forwardIn this problem, we consider a 3-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year. The interest rate is r = 0%. 16 22 28 12 16 12 8 4 2 time Figure 1: Stock evolution for Problem 1. (a) A colleague notices that in the model above, a movement up-down leads to the same value as a movement down-up. He concludes that the model is a CRR model. Is your colleague correct? (Explain your answer.) (b) We consider a European put with strike price K = 10 and expiration T = 3 years. Find the price of this option at time 0. Provide the replicating portfolio for the first period. (c) In addition to the call above, we also consider a European call with strike price K = 10 and expiration T = 3 years. Which one has the highest price? (It is not necessary to provide the price of the call.) (d) We now assume a yearly interest rate r = 25%. We consider a Bermudan put option with strike price K = 10. It works like a standard put, but you can exercise it…arrow_forwardIn this problem, we consider a 2-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year (At = 1). The yearly interest rate is r = 1/3 = 33%. This model is a CRR model. 25 15 9 10 6 4 time Figure 1: Stock evolution for Problem 1. (a) Find the values of up and down factors u and d, and the risk-neutral probability q. (b) We consider a European put with strike price K the price of this option at time 0. == 16 and expiration T = 2 years. Find (c) Provide the number of shares of stock that the replicating portfolio contains at each pos- sible position. (d) You find this option available on the market for $2. What do you do? (Short answer.) (e) We consider an American put with strike price K = 16 and expiration T = 2 years. Find the price of this option at time 0 and describe the optimal exercising strategy. (f) We consider an American call with strike price K ○ = 16 and expiration T = 2 years. Find the price of this option at time 0 and describe…arrow_forward
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