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10. A mutual fund price is influenced by new information, coming in many frequent small pieces. Each factor is influencing the price by increasing or

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10. A mutual fund price is influenced by new information, coming in many frequent small pieces. Each factor is influencing the price by increasing or decreasing it by a certain small percentage. Assume the efficient-market hypothesis (all future new information is independent of the past and is immediately incorporated in the price). Find the price. 11. An insurance company has 5600 clients. It pays each client a random sum, independently of each client. Find the overall sum paid to all clients. 12. Time until a personal computer break has mean 2.5 years. The time is independent from the time since the start of its use. Find the time until it breaks. 10. A mutual fund price is influenced by new information, coming in many frequent small pieces. Each factor is influencing the price by increasing or decreasing it by a certain small percentage. Assume the efficient-market hypothesis (all future new information is independent of the past and is immediately incorporated in the price). Find the price. 11. An insurance company has 5600 clients. It pays each client a random sum, independently of each client. Find the overall sum paid to all clients. 12. Time until a personal computer break has mean 2.5 years. The time is independent from the time since the start of its use. Find the time until it breaks

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