Nature of Mathematics (MindTap Course List)
13th Edition
ISBN: 9781133947257
Author: karl J. smith
Publisher: Cengage Learning
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Chapter 8.2, Problem 59PS
IN YOUR OWN WORDS – Extra square centimeter problem Figure
[Hint: Construct your own square
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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 8 Solutions
Nature of Mathematics (MindTap Course List)
Ch. 8.1 - IN YOUR OWN WORDS Contrast precision and accuracy.Ch. 8.1 - Prob. 2PSCh. 8.1 - Prob. 3PSCh. 8.1 - Prob. 4PSCh. 8.1 - Prob. 5PSCh. 8.1 - Prob. 6PSCh. 8.1 - Prob. 7PSCh. 8.1 - Prob. 8PSCh. 8.1 - From memory and without using any measuring...Ch. 8.1 - From memory and without using any measuring...
Ch. 8.1 - Prob. 11PSCh. 8.1 - Prob. 12PSCh. 8.1 - Prob. 13PSCh. 8.1 - Prob. 14PSCh. 8.1 - Prob. 15PSCh. 8.1 - Prob. 16PSCh. 8.1 - Prob. 17PSCh. 8.1 - Prob. 18PSCh. 8.1 - Prob. 19PSCh. 8.1 - Prob. 20PSCh. 8.1 - Prob. 21PSCh. 8.1 - Prob. 22PSCh. 8.1 - Prob. 23PSCh. 8.1 - Prob. 24PSCh. 8.1 - Prob. 25PSCh. 8.1 - Prob. 26PSCh. 8.1 - Prob. 27PSCh. 8.1 - Prob. 28PSCh. 8.1 - Prob. 29PSCh. 8.1 - Prob. 30PSCh. 8.1 - Prob. 31PSCh. 8.1 - Prob. 32PSCh. 8.1 - Prob. 33PSCh. 8.1 - Prob. 34PSCh. 8.1 - Prob. 35PSCh. 8.1 - Prob. 36PSCh. 8.1 - Prob. 37PSCh. 8.1 - Prob. 38PSCh. 8.1 - Prob. 39PSCh. 8.1 - Prob. 40PSCh. 8.1 - Prob. 41PSCh. 8.1 - Prob. 42PSCh. 8.1 - Prob. 43PSCh. 8.1 - Prob. 44PSCh. 8.1 - Prob. 45PSCh. 8.1 - Prob. 46PSCh. 8.1 - Prob. 47PSCh. 8.1 - Prob. 48PSCh. 8.1 - Prob. 49PSCh. 8.1 - Prob. 50PSCh. 8.1 - Prob. 51PSCh. 8.1 - Prob. 52PSCh. 8.1 - Prob. 53PSCh. 8.1 - Prob. 54PSCh. 8.1 - Prob. 55PSCh. 8.1 - The perimeter of this pentagon is 280cm. Find the...Ch. 8.1 - Prob. 57PSCh. 8.1 - Prob. 58PSCh. 8.1 - Prob. 59PSCh. 8.1 - Prob. 60PSCh. 8.2 - IN YOUR OWN WORDS What do we mean by area?Ch. 8.2 - Prob. 2PSCh. 8.2 - Prob. 3PSCh. 8.2 - Prob. 4PSCh. 8.2 - Prob. 5PSCh. 8.2 - Prob. 6PSCh. 8.2 - Prob. 7PSCh. 8.2 - Prob. 8PSCh. 8.2 - Prob. 9PSCh. 8.2 - Prob. 10PSCh. 8.2 - Prob. 11PSCh. 8.2 - Prob. 12PSCh. 8.2 - Prob. 13PSCh. 8.2 - Prob. 14PSCh. 8.2 - Prob. 15PSCh. 8.2 - Prob. 16PSCh. 8.2 - Prob. 17PSCh. 8.2 - Prob. 18PSCh. 8.2 - Prob. 19PSCh. 8.2 - Prob. 20PSCh. 8.2 - Prob. 21PSCh. 8.2 - Prob. 22PSCh. 8.2 - Prob. 23PSCh. 8.2 - Prob. 24PSCh. 8.2 - Prob. 25PSCh. 8.2 - Prob. 26PSCh. 8.2 - Prob. 27PSCh. 8.2 - Prob. 28PSCh. 8.2 - Prob. 29PSCh. 8.2 - Prob. 30PSCh. 8.2 - Prob. 31PSCh. 8.2 - Prob. 32PSCh. 8.2 - Prob. 33PSCh. 8.2 - Prob. 34PSCh. 8.2 - Prob. 35PSCh. 8.2 - Prob. 36PSCh. 8.2 - Prob. 37PSCh. 8.2 - Prob. 38PSCh. 8.2 - Prob. 39PSCh. 8.2 - Find the area of each shaded region in Problems...Ch. 8.2 - Prob. 41PSCh. 8.2 - Prob. 42PSCh. 8.2 - Prob. 43PSCh. 8.2 - Prob. 44PSCh. 8.2 - Prob. 45PSCh. 8.2 - Prob. 46PSCh. 8.2 - Prob. 47PSCh. 8.2 - Prob. 48PSCh. 8.2 - Prob. 49PSCh. 8.2 - Prob. 50PSCh. 8.2 - Prob. 51PSCh. 8.2 - Prob. 52PSCh. 8.2 - Prob. 53PSCh. 8.2 - Prob. 54PSCh. 8.2 - Prob. 55PSCh. 8.2 - What is the area to the nearest square inch of a...Ch. 8.2 - Find the area to the nearest square inch of the...Ch. 8.2 - Find the area to the nearest square inch of the...Ch. 8.2 - IN YOUR OWN WORDS Extra square centimeter problem...Ch. 8.2 - IN YOUR OWN WORDS Extra square inch problem Figure...Ch. 8.3 - IN YOUR OWN WORDS Contrast length, area, and...Ch. 8.3 - IN YOUR OWN WORDS What do we mean by surface area...Ch. 8.3 - IN YOUR OWN WORDS Contrast volume and capacity.Ch. 8.3 - Compare the size of a cubic inch and a cubic...Ch. 8.3 - Compare the size of a quart and a liter.Ch. 8.3 - Compare a meter and a yard.Ch. 8.3 - In Problems 7-8, find the volume of each solid by...Ch. 8.3 - In Problems 7-8, find the volume of each solid by...Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Find the volume of each solid in Problem 9-16.Ch. 8.3 - Find the volume of each solid in Problems 9-16.Ch. 8.3 - Measure each amount given in Problems 17-21....Ch. 8.3 - Measure each amount given in Problems 17-21....Ch. 8.3 - Measure each amount given in Problems 17-21. a....Ch. 8.3 - Measure each amount given in Problems 17-21. a....Ch. 8.3 - Measure each amount given in Problems 17-21. a....Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - The ability to estimate capacities is an important...Ch. 8.3 - Prob. 28PSCh. 8.3 - Prob. 29PSCh. 8.3 - Prob. 30PSCh. 8.3 - Prob. 31PSCh. 8.3 - Prob. 32PSCh. 8.3 - Prob. 33PSCh. 8.3 - Prob. 34PSCh. 8.3 - Prob. 35PSCh. 8.3 - Prob. 36PSCh. 8.3 - Prob. 37PSCh. 8.3 - Prob. 38PSCh. 8.3 - Prob. 39PSCh. 8.3 - Prob. 40PSCh. 8.3 - Prob. 41PSCh. 8.3 - Prob. 42PSCh. 8.3 - Prob. 43PSCh. 8.3 - Prob. 44PSCh. 8.3 - Prob. 45PSCh. 8.3 - Prob. 46PSCh. 8.3 - Prob. 47PSCh. 8.3 - Prob. 48PSCh. 8.3 - Prob. 49PSCh. 8.3 - Prob. 50PSCh. 8.3 - Prob. 51PSCh. 8.3 - Prob. 52PSCh. 8.3 - Prob. 53PSCh. 8.3 - Prob. 54PSCh. 8.3 - The exterior dimensions of a refrigerator/freezer...Ch. 8.3 - Prob. 56PSCh. 8.3 - Prob. 57PSCh. 8.3 - Use the plot shown in Figure 8.20 and give your...Ch. 8.3 - Prob. 59PSCh. 8.3 - a. Guess what percentage of the worlds population...Ch. 8.4 - Prob. 1PSCh. 8.4 - Prob. 2PSCh. 8.4 - Prob. 3PSCh. 8.4 - Prob. 4PSCh. 8.4 - Name the metric units you would use to measure...Ch. 8.4 - Prob. 6PSCh. 8.4 - Prob. 7PSCh. 8.4 - Prob. 8PSCh. 8.4 - Prob. 9PSCh. 8.4 - Prob. 10PSCh. 8.4 - Prob. 11PSCh. 8.4 - Prob. 12PSCh. 8.4 - Prob. 13PSCh. 8.4 - Prob. 14PSCh. 8.4 - Prob. 15PSCh. 8.4 - Prob. 16PSCh. 8.4 - Without measuring, pick the best choice in...Ch. 8.4 - Prob. 18PSCh. 8.4 - Prob. 19PSCh. 8.4 - Prob. 20PSCh. 8.4 - Prob. 21PSCh. 8.4 - Prob. 22PSCh. 8.4 - Prob. 23PSCh. 8.4 - Prob. 24PSCh. 8.4 - Prob. 25PSCh. 8.4 - Prob. 26PSCh. 8.4 - Prob. 27PSCh. 8.4 - Prob. 28PSCh. 8.4 - Prob. 29PSCh. 8.4 - Prob. 30PSCh. 8.4 - Write each measurement given in Problems 3138...Ch. 8.4 - Prob. 32PSCh. 8.4 - Prob. 33PSCh. 8.4 - Prob. 34PSCh. 8.4 - Prob. 35PSCh. 8.4 - Prob. 36PSCh. 8.4 - Prob. 37PSCh. 8.4 - Prob. 38PSCh. 8.4 - Prob. 39PSCh. 8.4 - Prob. 40PSCh. 8.4 - Prob. 41PSCh. 8.4 - Prob. 42PSCh. 8.4 - Prob. 43PSCh. 8.4 - Prob. 44PSCh. 8.4 - Prob. 45PSCh. 8.4 - Prob. 46PSCh. 8.4 - Prob. 47PSCh. 8.4 - Prob. 48PSCh. 8.4 - Prob. 49PSCh. 8.4 - Prob. 50PSCh. 8.4 - Prob. 51PSCh. 8.4 - Prob. 52PSCh. 8.4 - Prob. 53PSCh. 8.4 - Prob. 54PSCh. 8.4 - Prob. 55PSCh. 8.4 - If the length of a box is doubled, the width is...Ch. 8.4 - Prob. 57PSCh. 8.4 - Prob. 58PSCh. 8.4 - Prob. 59PSCh. 8.4 - A polyhedron is a simple closed surface in space...Ch. 8.CR - Prob. 1CRCh. 8.CR - Prob. 2CRCh. 8.CR - Prob. 3CRCh. 8.CR - Prob. 4CRCh. 8.CR - Prob. 5CRCh. 8.CR - Prob. 6CRCh. 8.CR - Prob. 7CRCh. 8.CR - Prob. 8CRCh. 8.CR - Prob. 9CRCh. 8.CR - Prob. 10CRCh. 8.CR - Prob. 11CRCh. 8.CR - Prob. 12CRCh. 8.CR - Prob. 13CRCh. 8.CR - Prob. 14CRCh. 8.CR - Prob. 15CRCh. 8.CR - Prob. 16CRCh. 8.CR - Prob. 17CRCh. 8.CR - Prob. 18CRCh. 8.CR - Prob. 19CRCh. 8.CR - John is bragging about his new 40-inch measured...
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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
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