Finite Mathematics (11th Edition)
11th Edition
ISBN: 9780321979438
Author: Margaret L. Lial, Raymond N. Greenwell, Nathan P. Ritchey
Publisher: PEARSON
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Textbook Question
Chapter R.4, Problem 1E
Solve each equation.
2x + 8 = x − 4
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Construct a know-show table for each statement below that appears to be true.
Problem 3. Pricing a multi-stock option the Margrabe formula
The purpose of this problem is to price a swap option in a 2-stock model, similarly as
what we did in the example in the lectures. We consider a two-dimensional Brownian
motion given by W₁ = (W(¹), W(2)) on a probability space (Q, F,P). Two stock prices
are modeled by the following equations:
dX
=
dY₁ =
X₁ (rdt+
rdt+0₁dW!)
(²)),
Y₁ (rdt+dW+0zdW!"),
with Xo
xo and Yo =yo. This corresponds to the multi-stock model studied in class,
but with notation (X+, Y₁) instead of (S(1), S(2)). Given the model above, the measure
P is already the risk-neutral measure (Both stocks have rate of return r). We write
σ = 0₁+0%. We consider a swap option, which gives you the right, at time T, to
exchange one share of X for one share of Y. That is, the option has payoff
F=(Yr-XT).
(a) We first assume that r = 0 (for questions (a)-(f)). Write an explicit expression for
the process Xt.
Reminder before proceeding to question (b): Girsanov's theorem…
Problem 1. Multi-stock model
We consider a 2-stock model similar to the one studied in class. Namely, we consider
=
S(1)
S(2)
=
S(¹) exp (σ1B(1) + (M1 - 0/1 )
S(²) exp (02B(2) + (H₂-
M2
where (B(¹) ) +20 and (B(2) ) +≥o are two Brownian motions, with
t≥0
Cov (B(¹), B(2)) = p min{t, s}.
"
The purpose of this problem is to prove that there indeed exists a 2-dimensional Brownian
motion (W+)+20 (W(1), W(2))+20 such that
=
S(1)
S(2)
=
=
S(¹) exp (011W(¹) + (μ₁ - 01/1) t)
롱)
S(²) exp (021W (1) + 022W(2) + (112 - 03/01/12) t).
where σ11, 21, 22 are constants to be determined (as functions of σ1, σ2, p).
Hint: The constants will follow the formulas developed in the lectures.
(a) To show existence of (Ŵ+), first write the expression for both W. (¹) and W (2)
functions of (B(1), B(²)).
as
(b) Using the formulas obtained in (a), show that the process (WA) is actually a 2-
dimensional standard Brownian motion (i.e. show that each component is normal,
with mean 0, variance t, and that their…
Chapter R Solutions
Finite Mathematics (11th Edition)
Ch. R.1 - Perform the indicated operations. (2x2 - 6x + 11)...Ch. R.1 - Perform the indicated operation (-4y2 - 3y + 8) -...Ch. R.1 - Perform the indicated operations. -6(2q2 + 4q - 3)...Ch. R.1 - Perform the indicated operations. 2(3r2 + 4r + 2)...Ch. R.1 - Perform the indicated operations. (0.613x2 -...Ch. R.1 - Perform the indicated operations. 0.5(5r2 + 3.2r -...Ch. R.1 - Perform the indicated operations. -9m(2m2 + 3m -...Ch. R.1 - Perform the indicated operations. 6x(-2x3 + 5x +...Ch. R.1 - Perform the indicated operutions. (3t - 2y)(3t +...Ch. R.1 - Perform the indicated Operations. (9k + q)(2k - q)
Ch. R.1 - Perform the indicated operations. (2 - 3x)(2 + 3x)Ch. R.1 - Perform the indicated operations. (6m + 5)(6m - 5)Ch. R.1 - Perform the indicated operations....Ch. R.1 - Perform the indicated operations....Ch. R.1 - Perform the indicated operations. (3p - 1)(9p2 +...Ch. R.1 - Perform the indicated operations. (3p+ 2)(5p2 + p...Ch. R.1 - Perform the indicated operations. (2m + 1 )(4m2 -...Ch. R.1 - Perform the indicated operations. (k + 2)(12k3 -...Ch. R.1 - Perform the indicated operations. (x + y + z)(3x -...Ch. R.1 - Perform the indicated operations. (r + 2s - 3t)(2r...Ch. R.1 - Perform the indicated operations. (x + 1)(x + 2)(x...Ch. R.1 - Perform the indicated operations. (x - l)(x + 2)(x...Ch. R.1 - Perform the indicated operations. (x + 2)2Ch. R.1 - Perform the indicated operations. (2a - 4b)2Ch. R.1 - Perform the indicated operations. (x - 2y)3Ch. R.1 - Perform the indicated operations. (3x + y)3Ch. R.2 - Factor each polynomial. If a polynomial cannot be...Ch. R.2 - Prob. 2ECh. R.2 - Factor each polynomial. If a polynomial cannot be...Ch. R.2 - Prob. 4ECh. R.2 - Prob. 5ECh. R.2 - Prob. 6ECh. R.2 - Prob. 7ECh. R.2 - Prob. 8ECh. R.2 - Prob. 9ECh. R.2 - Factor each polynomial. If a polynomial cannot be...Ch. R.2 - Prob. 11ECh. R.2 - Prob. 12ECh. R.2 - Prob. 13ECh. R.2 - Prob. 14ECh. R.2 - Prob. 15ECh. R.2 - Prob. 16ECh. R.2 - Prob. 17ECh. R.2 - Prob. 18ECh. R.2 - Prob. 19ECh. R.2 - Prob. 20ECh. R.2 - Prob. 21ECh. R.2 - Prob. 22ECh. R.2 - Prob. 23ECh. R.2 - Prob. 24ECh. R.2 - Prob. 25ECh. R.2 - Prob. 26ECh. R.2 - Prob. 27ECh. R.2 - Prob. 28ECh. R.2 - Prob. 29ECh. R.2 - Prob. 30ECh. R.2 - Prob. 31ECh. R.2 - Prob. 32ECh. R.3 - Write each rational expression in lowest terms....Ch. R.3 - Write each rational expression in lowest terms....Ch. R.3 - Prob. 3ECh. R.3 - Prob. 4ECh. R.3 - Prob. 5ECh. R.3 - Prob. 6ECh. R.3 - Prob. 7ECh. R.3 - Prob. 8ECh. R.3 - Prob. 9ECh. R.3 - Write each rational expression in lowest terms....Ch. R.3 - Prob. 11ECh. R.3 - Prob. 12ECh. R.3 - Prob. 13ECh. R.3 - Prob. 14ECh. R.3 - Prob. 15ECh. R.3 - Prob. 16ECh. R.3 - Prob. 17ECh. R.3 - Prob. 18ECh. R.3 - Prob. 19ECh. R.3 - Prob. 20ECh. R.3 - Prob. 21ECh. R.3 - Prob. 22ECh. R.3 - Prob. 23ECh. R.3 - Prob. 24ECh. R.3 - Prob. 25ECh. R.3 - Prob. 26ECh. R.3 - Prob. 27ECh. R.3 - Prob. 28ECh. R.3 - Prob. 29ECh. R.3 - Prob. 30ECh. R.3 - Prob. 31ECh. R.3 - Prob. 32ECh. R.3 - Prob. 33ECh. R.3 - Prob. 34ECh. R.3 - Prob. 35ECh. R.3 - Prob. 36ECh. R.3 - Prob. 37ECh. R.3 - Perform the indicated operations....Ch. R.4 - Solve each equation. 2x + 8 = x 4Ch. R.4 - Solve each equation. 5x + 2 = 8 3xCh. R.4 - Prob. 3ECh. R.4 - Prob. 4ECh. R.4 - Prob. 5ECh. R.4 - Prob. 6ECh. R.4 - Prob. 7ECh. R.4 - Prob. 8ECh. R.4 - Prob. 9ECh. R.4 - Solve each equation by factoring or by using the...Ch. R.4 - Prob. 11ECh. R.4 - Prob. 12ECh. R.4 - Prob. 13ECh. R.4 - Prob. 14ECh. R.4 - Solve each equation by factoring or by using the...Ch. R.4 - Prob. 16ECh. R.4 - Prob. 17ECh. R.4 - Prob. 18ECh. R.4 - Prob. 19ECh. R.4 - Prob. 20ECh. R.4 - Solve each equation by factoring or by using the...Ch. R.4 - Prob. 22ECh. R.4 - Prob. 23ECh. R.4 - Prob. 24ECh. R.4 - Prob. 25ECh. R.4 - Solve each equation by factoring or by using the...Ch. R.4 - Solve each equation. 3x27=x+25Ch. R.4 - Prob. 28ECh. R.4 - Solve each equation. 4x382x+5+3x3=0Ch. R.4 - Prob. 30ECh. R.4 - Solve each equation. 2mm26m=12m22mCh. R.4 - Prob. 32ECh. R.4 - Prob. 33ECh. R.4 - Prob. 34ECh. R.4 - Prob. 35ECh. R.4 - Prob. 36ECh. R.4 - Prob. 37ECh. R.5 - Write each expression in interval notation. Graph...Ch. R.5 - Prob. 2ECh. R.5 - Write each expression in interval notation. Graph...Ch. R.5 - Prob. 4ECh. R.5 - Write each expression in interval notation. Graph...Ch. R.5 - Prob. 6ECh. R.5 - Prob. 7ECh. R.5 - Prob. 8ECh. R.5 - Prob. 9ECh. R.5 - Prob. 10ECh. R.5 - Prob. 11ECh. R.5 - Using the variable x, write each interval as an...Ch. R.5 - Using the variable x, write each interval as an...Ch. R.5 - Prob. 14ECh. R.5 - Prob. 15ECh. R.5 - Prob. 16ECh. R.5 - Prob. 17ECh. R.5 - Prob. 18ECh. R.5 - Prob. 19ECh. R.5 - Prob. 20ECh. R.5 - Prob. 21ECh. R.5 - Prob. 22ECh. R.5 - Prob. 23ECh. R.5 - Prob. 24ECh. R.5 - Prob. 25ECh. R.5 - Prob. 26ECh. R.5 - Prob. 27ECh. R.5 - Prob. 28ECh. R.5 - Prob. 29ECh. R.5 - Prob. 30ECh. R.5 - Prob. 31ECh. R.5 - Prob. 32ECh. R.5 - Prob. 33ECh. R.5 - Prob. 34ECh. R.5 - Prob. 35ECh. R.5 - Solve each inequality. Graph each solution. 3a2 +...Ch. R.5 - Prob. 37ECh. R.5 - Solve each inequality. Graph each solution. p2 ...Ch. R.5 - Prob. 39ECh. R.5 - Prob. 40ECh. R.5 - Prob. 41ECh. R.5 - Prob. 42ECh. R.5 - Solve each inequality. m3m+50Ch. R.5 - Solve each inequality. r+1r10Ch. R.5 - Prob. 45ECh. R.5 - Prob. 46ECh. R.5 - Prob. 47ECh. R.5 - Prob. 48ECh. R.5 - Prob. 49ECh. R.5 - Prob. 50ECh. R.5 - Prob. 51ECh. R.5 - Prob. 52ECh. R.5 - Solve each inequality. z2+zz213Ch. R.5 - Solve each inequality. a2+2aa242Ch. R.6 - Evaluate each expression. Write all answers...Ch. R.6 - Prob. 2ECh. R.6 - Prob. 3ECh. R.6 - Prob. 4ECh. R.6 - Prob. 5ECh. R.6 - Prob. 6ECh. R.6 - Prob. 7ECh. R.6 - Prob. 8ECh. R.6 - Prob. 9ECh. R.6 - Prob. 10ECh. R.6 - Prob. 11ECh. R.6 - Prob. 12ECh. R.6 - Prob. 13ECh. R.6 - Prob. 14ECh. R.6 - Prob. 15ECh. R.6 - Prob. 16ECh. R.6 - Prob. 17ECh. R.6 - Prob. 18ECh. R.6 - Prob. 19ECh. R.6 - Prob. 20ECh. R.6 - Prob. 21ECh. R.6 - Prob. 22ECh. R.6 - Prob. 23ECh. R.6 - Prob. 24ECh. R.6 - Simplify each expression, writing the answer as a...Ch. R.6 - Prob. 26ECh. R.6 - Write each number without exponent. 1211/2Ch. R.6 - Prob. 28ECh. R.6 - Prob. 29ECh. R.6 - Write each number without exponent. -1252/3Ch. R.6 - Prob. 31ECh. R.6 - Prob. 32ECh. R.6 - Prob. 33ECh. R.6 - Prob. 34ECh. R.6 - Prob. 35ECh. R.6 - Prob. 36ECh. R.6 - Simplify each expression. Write all answers with...Ch. R.6 - Prob. 38ECh. R.6 - Prob. 39ECh. R.6 - Prob. 40ECh. R.6 - Prob. 41ECh. R.6 - Prob. 42ECh. R.6 - Prob. 43ECh. R.6 - Prob. 44ECh. R.6 - Prob. 45ECh. R.6 - Prob. 46ECh. R.6 - Prob. 47ECh. R.6 - Prob. 48ECh. R.6 - Prob. 49ECh. R.6 - Prob. 50ECh. R.6 - Prob. 51ECh. R.6 - Prob. 52ECh. R.6 - Prob. 53ECh. R.6 - Factor each expression. 9(6x + 2)1/2 + 3(9x 1)(6x...Ch. R.6 - Prob. 55ECh. R.6 - Prob. 56ECh. R.7 - Simplify each expression by removing as many...Ch. R.7 - Prob. 2ECh. R.7 - Simplify each expression by removing as many...Ch. R.7 - Prob. 4ECh. R.7 - Prob. 5ECh. R.7 - Prob. 6ECh. R.7 - Prob. 7ECh. R.7 - Prob. 8ECh. R.7 - Prob. 9ECh. R.7 - Prob. 10ECh. R.7 - Prob. 11ECh. R.7 - Prob. 12ECh. R.7 - Prob. 13ECh. R.7 - Prob. 14ECh. R.7 - Prob. 15ECh. R.7 - Prob. 16ECh. R.7 - Prob. 17ECh. R.7 - Prob. 18ECh. R.7 - Prob. 19ECh. R.7 - Prob. 20ECh. R.7 - Simplify each expression by removing as many...Ch. R.7 - Prob. 22ECh. R.7 - Prob. 23ECh. R.7 - Prob. 24ECh. R.7 - Prob. 25ECh. R.7 - Prob. 26ECh. R.7 - Prob. 27ECh. R.7 - Prob. 28ECh. R.7 - Prob. 29ECh. R.7 - Rationalize each denominator. Assume that all...Ch. R.7 - Prob. 31ECh. R.7 - Prob. 32ECh. R.7 - Prob. 33ECh. R.7 - Rationalize each denominator. Assume that all...Ch. R.7 - Prob. 35ECh. R.7 - Prob. 36ECh. R.7 - Prob. 37ECh. R.7 - Prob. 38ECh. R.7 - Prob. 39ECh. R.7 - Prob. 40ECh. R.7 - Prob. 41ECh. R.7 - Rationalize each denominator. Assume that all...Ch. R.7 - Prob. 43ECh. R.7 - Prob. 44E
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