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# (In some of the exercises that follow, we must | Ch 9.4 - 4E ISBN: 9780321923271 41

## Solution for problem 4E Chapter 9.4

Probability and Statistical Inference | 9th Edition

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Problem 4E

(In some of the exercises that follow, we must make assumptions, such as normal distributions with equal variances.)

Show that the cross-product terms formed from sum to zero, i = 1, 2, . . . a and j = 1, 2, . . . , b. Hint: For example,write and sum each term in the inner summation, as grouped here, to get zero.

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Personal Finance Time Value of Money ­ \$1 today is worth more than \$1 in the future 3 main reasons to take money today (RIO) ­ Risk: may not receive money ­ Inflation: increase in general price level ­ Opportunity cost: can do things with \$1 today Types of Problems ­ Future Value (lump sum) ­ Present Value (lump sum) ­ Annuities and loan payments o...

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