Bundle: Nature Of Mathematics, Loose-leaf Version, 13th + Webassign Printed Access Card For Smith's Nature Of Mathematics, 13th Edition, Single-term
13th Edition
ISBN: 9781337605076
Author: karl J. smith
Publisher: Cengage Learning
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Textbook Question
Chapter P, Problem 46PS
A hospital wishes to provide for its patients a diet that has a minimum of 100 g of carbohydrates, 60 g of protein, and 40 g of fats per day. These requirements can be met with two foods:
| Food | Carbohydrates | Protein | Fats |
| A |
|
|
|
| B |
|
|
|
It is also important to minimize costs; food A costs $0.14 per ounce and food B costs $0.06 per ounce. How many ounces of each food should be bought for each patient per day to meet the minimum daily requirements at the lowest cost?
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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 P Solutions
Bundle: Nature Of Mathematics, Loose-leaf Version, 13th + Webassign Printed Access Card For Smith's Nature Of Mathematics, 13th Edition, Single-term
Ch. P - IN YOUR OWN WORDS The prologue provides a...Ch. P - IN YOUR OWN WORDS The epilogue for this text...Ch. P - HISTORICAL QUEST What are the five chronological...Ch. P - HISTORICAL QUEST Select what you believe to be the...Ch. P - HISTORICAL QUEST Select what you believe to be the...Ch. P - HISTORICAL QUEST Select what you believe to be the...Ch. P - HISTORICAL QUEST Select what you believe to be the...Ch. P - HISTORICAL QUEST Select what you believe to be the...Ch. P - IN YOUR OWN WORDS This prologue has 60 problems as...Ch. P - IN YOUR OWN WORDS Problems 11-60 are included to...
Ch. P - In mathematics, is is important to read the...Ch. P - In mathematics, is is important to read the...Ch. P - How many people must be in a room to be sure that...Ch. P - In mathematics, is is important to read the...Ch. P - If a year had two consecutive months with a Friday...Ch. P - On Saturday evenings, a favourite pastime of the...Ch. P - In mathematics, is is important to read the...Ch. P - In mathematics, is is important to read the...Ch. P - If the population of the world on October 12,2002,...Ch. P - Prob. 20PSCh. P - In mathematics, is is important to read the...Ch. P - Prob. 22PSCh. P - In mathematics, is is important to read the...Ch. P - In mathematics, is is important to read the...Ch. P - In mathematics, is is important to read the...Ch. P - In mathematics, is is important to read the...Ch. P - In mathematics, is is important to read the...Ch. P - If a group of 50 persons consists of 20 males, 12...Ch. P - In mathematics, is is important to read the...Ch. P - Prob. 30PSCh. P - What is the 1,000th positive integer that is not...Ch. P - In mathematics, is is important to read the...Ch. P - How many trees must be cut to make a trillion...Ch. P - Prob. 34PSCh. P - Critique the statement given in the news clip.Ch. P - In mathematics, is is important to read the...Ch. P - Prob. 37PSCh. P - The map shows the percent of children ages 19-35...Ch. P - Prob. 39PSCh. P - Find limn(1+1n)n.Ch. P - Prob. 41PSCh. P - Prob. 42PSCh. P - Suppose the percentage of alcohol in the blood t...Ch. P - Prob. 44PSCh. P - A map of small village is shown in Figure 8. To...Ch. P - A hospital wishes to provide for its patients a...Ch. P - Prob. 47PSCh. P - Find the smallest number of operations needed to...Ch. P - If log2x+log4x=logbx, what is b?Ch. P - Supply the missing number in the following...Ch. P - Prob. 51PSCh. P - Answer the question asked in the news clip from...Ch. P - Five cards are drawn at random from a pack of...Ch. P - What is the sum of the counting numbers from 1 to...Ch. P - The Kabbalah is a body of mystical teaching from...Ch. P - What is the maximum number of points of...Ch. P - The equation P=153,000e0.05t represents the...Ch. P - The Egyptians had an interesting, pictorial...Ch. P - If you start with 1 and double the amount received...Ch. P - Consider two experiments and events defined as...
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