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Elementary Differential Equations
10th Edition
ISBN: 9780470458327
Author: William E. Boyce, Richard C. DiPrima
Publisher: Wiley, John & Sons, Incorporated
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Chapter 3.4, Problem 43P
To determine
The solution of the given
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Students have asked these similar questions
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 3 Solutions
Elementary Differential Equations
Ch. 3.1 - In each of Problems 1 through 8, find the general...Ch. 3.1 - In each of Problems 1 through 8, find the general...Ch. 3.1 - In each of Problems 1 through 8, find the general...Ch. 3.1 - In each of Problems 1 through 8, find the general...Ch. 3.1 - In each of Problems 1 through 8, find the general...Ch. 3.1 - In each of Problems 1 through 8, find the general...Ch. 3.1 - In each of Problems 1 through 8, find the general...Ch. 3.1 - In each of Problems 1 through 8, find the general...Ch. 3.1 - In each of Problems 9 through 16, find the...Ch. 3.1 - In each of Problems 9 through 16, find the...
Ch. 3.1 - In each of Problems 9 through 16, find the...Ch. 3.1 - Prob. 12PCh. 3.1 - Prob. 13PCh. 3.1 - Prob. 14PCh. 3.1 - In each of Problems 9 through 16, find the...Ch. 3.1 - Prob. 16PCh. 3.1 - Prob. 17PCh. 3.1 - Prob. 18PCh. 3.1 - Prob. 19PCh. 3.1 - Prob. 20PCh. 3.1 - Solve the initial value problem y″ − y′ − 2y = 0,...Ch. 3.1 - Solve the initial value problem 4y″ − y = 0, y(0)...Ch. 3.1 - Prob. 23PCh. 3.1 - Prob. 24PCh. 3.1 - Prob. 25PCh. 3.1 - Prob. 26PCh. 3.1 - Prob. 27PCh. 3.1 - Prob. 28PCh. 3.2 - In each of Problems 1 through 6, find the...Ch. 3.2 - In each of Problems 1 through 6, find the...Ch. 3.2 - In each of Problems 1 through 6, find the...Ch. 3.2 - In each of Problems 1 through 6, find the...Ch. 3.2 - In each of Problems 1 through 6, find the...Ch. 3.2 - In each of Problems 1 through 6, find the...Ch. 3.2 - In each of Problems 7 through 12, determine the...Ch. 3.2 - In each of Problems 7 through 12, determine the...Ch. 3.2 - In each of Problems 7 through 12, determine the...Ch. 3.2 - In each of Problems 7 through 12, determine the...Ch. 3.2 - In each of Problems 7 through 12, determine the...Ch. 3.2 - In each of Problems 7 through 12, determine the...Ch. 3.2 - Verify that y1(t) = t2 and y2(t) = t−1 are two...Ch. 3.2 - Verify that y1(t) = 1 and y2(t) = t1/2 are...Ch. 3.2 - Show that if y = φ(t) is a solution of the...Ch. 3.2 - Can y = sin(t2) be a solution on an interval...Ch. 3.2 - If the Wronskian W of f and g is 3e4t, and if f(t)...Ch. 3.2 - Prob. 18PCh. 3.2 - If W(f, g) is the Wronskian of f and g, and if u =...Ch. 3.2 - If the Wronskian of f and g is t cos t − sin t,...Ch. 3.2 - Assume that y1 and y2 are a fundamental set of...Ch. 3.2 - Prob. 22PCh. 3.2 - Prob. 23PCh. 3.2 - Prob. 24PCh. 3.2 - Prob. 25PCh. 3.2 - Prob. 26PCh. 3.2 - Prob. 27PCh. 3.2 - Prob. 28PCh. 3.2 - Prob. 29PCh. 3.2 - Prob. 30PCh. 3.2 - Prob. 31PCh. 3.2 - Prob. 32PCh. 3.2 - Prob. 33PCh. 3.2 - Prob. 34PCh. 3.2 - Prob. 35PCh. 3.2 - If the Wronskian of any two solutions of y″ +...Ch. 3.2 - Prob. 37PCh. 3.2 - Prob. 38PCh. 3.2 - Prob. 39PCh. 3.2 - Prob. 40PCh. 3.2 - Prob. 41PCh. 3.2 - Prob. 42PCh. 3.2 - Prob. 43PCh. 3.2 - Prob. 44PCh. 3.2 - Prob. 45PCh. 3.2 - Prob. 46PCh. 3.2 - Prob. 47PCh. 3.2 - Prob. 48PCh. 3.2 - Prob. 49PCh. 3.2 - Prob. 50PCh. 3.2 - Prob. 51PCh. 3.3 - In each of Problems 1 through 6, use Euler’s...Ch. 3.3 - In each of Problems 1 through 6, use Euler’s...Ch. 3.3 - In each of Problems 1 through 6, use Euler’s...Ch. 3.3 - In each of Problems 1 through 6, use Euler’s...Ch. 3.3 - In each of Problems 1 through 6, use Euler’s...Ch. 3.3 - In each of Problems 1 through 6, use Euler’s...Ch. 3.3 - In each of Problems 7 through 16, find the general...Ch. 3.3 - In each of Problems 7 through 16, find the general...Ch. 3.3 - In each of Problems 7 through 16, find the general...Ch. 3.3 - In each of Problems 7 through 16, find the general...Ch. 3.3 - Prob. 11PCh. 3.3 - Prob. 12PCh. 3.3 - In each of Problems 7 through 16, find the general...Ch. 3.3 - Prob. 14PCh. 3.3 - Prob. 15PCh. 3.3 - Prob. 16PCh. 3.3 - Prob. 17PCh. 3.3 - Prob. 18PCh. 3.3 - Prob. 19PCh. 3.3 - Prob. 20PCh. 3.3 - In each of Problems 17 through 22, find the...Ch. 3.3 - In each of Problems 17 through 22, find the...Ch. 3.3 - Prob. 23PCh. 3.3 - Prob. 24PCh. 3.3 - Prob. 25PCh. 3.3 - Prob. 26PCh. 3.3 - Prob. 27PCh. 3.3 - Prob. 28PCh. 3.3 - Prob. 29PCh. 3.3 - Prob. 30PCh. 3.3 - Prob. 31PCh. 3.3 - Prob. 32PCh. 3.3 - Prob. 33PCh. 3.3 - Prob. 34PCh. 3.3 - Prob. 35PCh. 3.3 - Prob. 36PCh. 3.3 - Prob. 37PCh. 3.3 - Prob. 38PCh. 3.3 - Prob. 39PCh. 3.3 - Prob. 40PCh. 3.3 - Prob. 41PCh. 3.3 - Prob. 42PCh. 3.3 - Prob. 43PCh. 3.3 - Prob. 44PCh. 3.3 - Prob. 45PCh. 3.3 - Prob. 46PCh. 3.4 - In each of Problems 1 through 10, find the general...Ch. 3.4 - Prob. 2PCh. 3.4 - Prob. 3PCh. 3.4 - Prob. 4PCh. 3.4 - Prob. 5PCh. 3.4 - Prob. 6PCh. 3.4 - Prob. 7PCh. 3.4 - Prob. 8PCh. 3.4 - Prob. 9PCh. 3.4 - Prob. 10PCh. 3.4 - In each of Problems 11 through 14, solve the given...Ch. 3.4 - Prob. 12PCh. 3.4 - Prob. 13PCh. 3.4 - Prob. 14PCh. 3.4 - Prob. 15PCh. 3.4 - Prob. 16PCh. 3.4 - Prob. 17PCh. 3.4 - Consider the initial value problem
9y″ + 12y′ + 4y...Ch. 3.4 - Prob. 19PCh. 3.4 - Prob. 20PCh. 3.4 - Prob. 21PCh. 3.4 - Prob. 22PCh. 3.4 - Prob. 23PCh. 3.4 - Prob. 24PCh. 3.4 - Prob. 25PCh. 3.4 - Prob. 26PCh. 3.4 - Prob. 27PCh. 3.4 - Prob. 28PCh. 3.4 - Prob. 29PCh. 3.4 - Prob. 30PCh. 3.4 - Prob. 31PCh. 3.4 - The method of Problem 20 can be extended to second...Ch. 3.4 - In each of Problems 33 through 36, use the method...Ch. 3.4 - Prob. 34PCh. 3.4 - Prob. 35PCh. 3.4 - Prob. 36PCh. 3.4 - Prob. 37PCh. 3.4 - Prob. 38PCh. 3.4 - Prob. 39PCh. 3.4 - Euler Equations. In each of Problems 40 through...Ch. 3.4 - Prob. 41PCh. 3.4 - Prob. 42PCh. 3.4 - Prob. 43PCh. 3.4 - Prob. 44PCh. 3.4 - Prob. 45PCh. 3.5 - In each of Problems 1 through 14, find the general...Ch. 3.5 - In each of Problems 1 through 14, find the general...Ch. 3.5 - In each of Problems 1 through 14, find the general...Ch. 3.5 - Prob. 4PCh. 3.5 - Prob. 5PCh. 3.5 - Prob. 6PCh. 3.5 - Prob. 7PCh. 3.5 - In each of Problems 1 through 14, find the general...Ch. 3.5 - Prob. 9PCh. 3.5 - Prob. 10PCh. 3.5 - In each of Problems 1 through 14, find the general...Ch. 3.5 - Prob. 12PCh. 3.5 - Prob. 13PCh. 3.5 - Prob. 14PCh. 3.5 - Prob. 15PCh. 3.5 - Prob. 16PCh. 3.5 - In each of Problems 15 through 20, find the...Ch. 3.5 - Prob. 18PCh. 3.5 - Prob. 19PCh. 3.5 - Prob. 20PCh. 3.5 - Prob. 29PCh. 3.5 - Prob. 30PCh. 3.5 - Prob. 31PCh. 3.5 - Prob. 32PCh. 3.5 - Prob. 33PCh. 3.5 - Prob. 34PCh. 3.5 - Prob. 35PCh. 3.5 - Prob. 36PCh. 3.5 - Prob. 37PCh. 3.5 - Prob. 38PCh. 3.5 - Prob. 39PCh. 3.6 - In each of Problems 1 through 4, use the method of...Ch. 3.6 - Prob. 2PCh. 3.6 - Prob. 3PCh. 3.6 - Prob. 4PCh. 3.6 - Prob. 5PCh. 3.6 - Prob. 6PCh. 3.6 - Prob. 7PCh. 3.6 - Prob. 8PCh. 3.6 - Prob. 9PCh. 3.6 - Prob. 10PCh. 3.6 - Prob. 11PCh. 3.6 - Prob. 12PCh. 3.6 - Prob. 13PCh. 3.6 - Prob. 14PCh. 3.6 - Prob. 15PCh. 3.6 - Prob. 16PCh. 3.6 - Prob. 17PCh. 3.6 - Prob. 18PCh. 3.6 - Prob. 19PCh. 3.6 - Prob. 20PCh. 3.6 - Prob. 21PCh. 3.6 - Prob. 22PCh. 3.6 - Prob. 23PCh. 3.6 - Prob. 24PCh. 3.6 - Prob. 25PCh. 3.6 - Prob. 26PCh. 3.6 - Prob. 27PCh. 3.6 - Prob. 28PCh. 3.6 - Prob. 29PCh. 3.6 - Prob. 30PCh. 3.6 - Prob. 31PCh. 3.6 - Prob. 32PCh. 3.7 - In each of Problems 1 through 4, determine ω0, R,...Ch. 3.7 - Prob. 2PCh. 3.7 - Prob. 3PCh. 3.7 - Prob. 4PCh. 3.7 - Prob. 5PCh. 3.7 - Prob. 6PCh. 3.7 - Prob. 7PCh. 3.7 - Prob. 8PCh. 3.7 - Prob. 9PCh. 3.7 - Prob. 10PCh. 3.7 - Prob. 11PCh. 3.7 - Prob. 12PCh. 3.7 - Prob. 13PCh. 3.7 - Prob. 14PCh. 3.7 - Prob. 15PCh. 3.7 - Prob. 16PCh. 3.7 - Prob. 17PCh. 3.7 - Prob. 18PCh. 3.7 - Prob. 19PCh. 3.7 - Prob. 20PCh. 3.7 - Prob. 21PCh. 3.7 - Prob. 22PCh. 3.7 - Prob. 23PCh. 3.7 - Prob. 24PCh. 3.7 - Prob. 26PCh. 3.7 - Prob. 27PCh. 3.7 - Prob. 28PCh. 3.7 - Prob. 29PCh. 3.7 - Prob. 30PCh. 3.7 - Prob. 31PCh. 3.8 - Prob. 1PCh. 3.8 - Prob. 2PCh. 3.8 - Prob. 3PCh. 3.8 - Prob. 4PCh. 3.8 - Prob. 5PCh. 3.8 - Prob. 6PCh. 3.8 - Prob. 7PCh. 3.8 - Prob. 8PCh. 3.8 - Prob. 9PCh. 3.8 - Prob. 10PCh. 3.8 - Prob. 11PCh. 3.8 - Prob. 12PCh. 3.8 - Prob. 14PCh. 3.8 - Prob. 15PCh. 3.8 - Prob. 16P
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