Quantitative Methods

MEC-203: Quantitative Methods – Solved Assignment 2024-25 (All Questions Answered)

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IGNOU MEC-203: Quantitative Methods – Solved Assignment 2024-25 Below are the complete answers for the Tutor Marked Assignment (TMA) for MEC-203: Quantitative Methods, valid for the academic session 2024-25. Each answer is provided in detail with explanations suitable for easy understanding. Click on the links to access each solution. Consider an investor who at time […]

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Write short notes on following: a) Homogeneous and Homothetic functions b) L’Hopital’s rule c) Order of a difference equation d) Cramer – Rao inequality

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a) Homogeneous and Homothetic Functions Homogeneous Function: A function f(x, y) is said to be homogeneous of degree n if scaling all inputs by a constant λ results in the output being scaled by λⁿ. Mathematically, f(λx, λy) = λⁿf(x, y) Example: f(x, y) = x² + y² is homogeneous of degree 2. In economics,

Write short notes on following: a) Homogeneous and Homothetic functions b) L’Hopital’s rule c) Order of a difference equation d) Cramer – Rao inequality Read More »

Consider an investor who at time t = 0 is endowed with initial capital of x(0)=x0 > 0… [Full question continued]

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Introduction This problem describes an optimal control problem in economics, specifically dealing with intertemporal consumption decisions made by an investor. The goal is to choose a consumption function c(t) over time interval [0, T] that maximizes utility from consumption while ensuring the investor remains solvent over time, meaning that capital remains positive. Let’s break it

Consider an investor who at time t = 0 is endowed with initial capital of x(0)=x0 > 0… [Full question continued] Read More »

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