A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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Chapter 1, Problem 1.7STPE
Give a combinatorial explanation of the identity (nr)=(nn−r)
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The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $150,000. Their finance company has offered them two options. (Assume there are no additional finance charges. Round your answers to the nearest cent.)
Option A: A fixed-rate mortgage at an interest rate of 4.5%/year compounded monthly, payable over a 30-year period in 360 equal monthly installments.Option B: A fixed-rate mortgage at an interest rate of 4.25%/year compounded monthly, payable over a 12-year period in 144 equal monthly installments.
(a) Find the monthly payment required to amortize each of these loans over the life of the loan.
option A $
option B $
(b) How much interest would the Martinezes save if they chose the 12-year mortgage instead of the 30-year mortgage?
The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $150,000. Their finance company has offered them two options. (Assume there are no additional finance charges. Round your answers to the nearest cent.)
Option A: A fixed-rate mortgage at an interest rate of 4.5%/year compounded monthly, payable over a 30-year period in 360 equal monthly installments.Option B: A fixed-rate mortgage at an interest rate of 4.25%/year compounded monthly, payable over a 12-year period in 144 equal monthly installments.
(a) Find the monthly payment required to amortize each of these loans over the life of the loan.
option A $
option B $
(b) How much interest would the Martinezes save if they chose the 12-year mortgage instead of the 30-year mortgage?
When a tennis player serves, he gets two chances to serve in bounds. If he fails to do so twice, he loses the point. If he
attempts to serve an ace, he serves in bounds with probability 3/8.If he serves a lob, he serves in bounds with probability
7/8. If he serves an ace in bounds, he wins the point with probability 2/3. With an in-bounds lob, he wins the point with
probability 1/3. If the cost is '+1' for each point lost and '-1' for each point won, the problem is to determine the optimal
serving strategy to minimize the (long-run)expected average cost per point. (Hint: Let state 0 denote point over,two
serves to go on next point; and let state 1 denote one serve left.
(1). Formulate this problem as a Markov decision process by identifying the states and decisions and then finding the
Cik.
(2). Draw the corresponding state action diagram.
(3). List all possible (stationary deterministic) policies.
(4). For each policy, find the transition matrix and write an expression for the…
Chapter 1 Solutions
A First Course in Probability (10th Edition)
Ch. 1 - a. How many different 7-place license plates are...Ch. 1 - How many outcome sequences are possible ten a die...Ch. 1 - Twenty workers are to be assigned to 20 different...Ch. 1 - John, Jim, Jay, and Jack have formed a band...Ch. 1 - For years, telephone area codes in the United...Ch. 1 - A well-known nursery rhyme starts as follows: As I...Ch. 1 - a. In how many ways can 3 boys and 3 girls sit in...Ch. 1 - When all letters are used, how many different...Ch. 1 - A child has 12 blocks, of which 6 are black, 4 are...Ch. 1 - In how many ways can 8 people be seated in a row...
Ch. 1 - In how many ways can 3 novels. 2 mathematics...Ch. 1 - How many 3 digit numbers zyz, with x, y, z all...Ch. 1 - How many different letter permutations, of any...Ch. 1 - Five separate awards (best scholarship, best...Ch. 1 - Consider a group of 20 people. If everyone shakes...Ch. 1 - How many 5-card poker hands are there?Ch. 1 - A dance class consists of 22 students, of which 10...Ch. 1 - A student has to sell 2 books from a collection of...Ch. 1 - Seven different gifts are to be distributed among...Ch. 1 - A committee of 7, consisting of 2 Republicans, 2...Ch. 1 - From a group of 8 women and 6 men, a committee...Ch. 1 - A person has 8 friends, of whom S will be invited...Ch. 1 - Consider the grid of points shown at the top of...Ch. 1 - In Problem 23, how many different paths are there...Ch. 1 - A psychology laboratory conducting dream research...Ch. 1 - Show k=0n(nk)2k=3n Simplify k=0n(nk)xkCh. 1 - Expand (3x2+y)5.Ch. 1 - The game of bridge is played by 4 players, each of...Ch. 1 - Expand (x1+2x2+3x3)4.Ch. 1 - If 12 people are to be divided into 3 committees...Ch. 1 - If 8 new teachers are to be divided among 4...Ch. 1 - Ten weight lifters are competing in a team...Ch. 1 - Delegates from 10 countries, including Russia,...Ch. 1 - If 8 identical blackboards are to be divided among...Ch. 1 - An elevator starts at the basement with 8 people...Ch. 1 - We have 520.000 that must be invested among 4...Ch. 1 - Suppose that 10 fish are caught at a lake that...Ch. 1 - Prove the generalized version of the basic...Ch. 1 - Two experiments are to be performed. The first can...Ch. 1 - In how many ways can r objects be selected from a...Ch. 1 - There are (nr) different linear arrangements of n...Ch. 1 - Determine the number of vectors (x1,...,xn), such...Ch. 1 - How many vectors x1,...,xk are there for which...Ch. 1 - Give an analytic proof of Equation (4.1).Ch. 1 - Prove that (n+mr)=(n0)(mr)+(n1)(mr1)+...+(nr)(m0)...Ch. 1 - Use Theoretical Exercise 8 I to prove that...Ch. 1 - From a group of n people, suppose that we want to...Ch. 1 - The following identity is known as Fermats...Ch. 1 - Consider the following combinatorial identity:...Ch. 1 - Show that, for n0 ,i=0n(1)i(ni)=0 Hint: Use the...Ch. 1 - From a set of n people, a committee of size j is...Ch. 1 - Let Hn(n) be the number of vectors x1,...,xk for...Ch. 1 - Consider a tournament of n contestants in which...Ch. 1 - Present a combinatorial explanation of why...Ch. 1 - Argue...Ch. 1 - Prove the multinomial theorem.Ch. 1 - In how many ways can n identical balls be...Ch. 1 - Argue that there are exactly (rk)(n1nr+k)...Ch. 1 - Prob. 1.22TECh. 1 - Determine the number of vectors (xi,...,xn) such...Ch. 1 - How many different linear arrangements are there...Ch. 1 - If 4 Americans, 3 French people, and 3 British...Ch. 1 - A president. treasurer, and secretary. all...Ch. 1 - A student is to answer 7 out of 10 questions in an...Ch. 1 - In how many ways can a man divide 7 gifts among...Ch. 1 - How many different 7-place license plates are...Ch. 1 - Give a combinatorial explanation of the...Ch. 1 - Consider n-digit numbers where each digit is one...Ch. 1 - Consider three classes, each consisting of n...Ch. 1 - How many 5-digit numbers can be formed from the...Ch. 1 - From 10 married couples, we want to select a group...Ch. 1 - A committee of 6 people is to be chosen from a...Ch. 1 - An art collection on auction consisted of 4 Dalis,...Ch. 1 - Prob. 1.14STPECh. 1 - A total of n students are enrolled in a review...Ch. 1 - Prob. 1.16STPECh. 1 - Give an analytic verification of...Ch. 1 - In a certain community, there are 3 families...Ch. 1 - If there are no restrictions on where the digits...Ch. 1 - Verify the...Ch. 1 - Simplify n(n2)+(n3)...+(1)n+1(nn)
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