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Decide which of the following are geometric series. For those which are, give the first term and the ratio between successive terms. For those which are not, explain why not. $$1+2 z+(2 z)^{2}+(2 z)^{3}+\cdots$$

Short Answer

Expert verified
The series is geometric with first term 1 and common ratio \(2z\).

Step by step solution

01

Identify the Series Terms

The given series is \(1 + 2z + (2z)^2 + (2z)^3 + \cdots\). First, identify the individual terms of the series: \(1, 2z, (2z)^2, (2z)^3, \ldots\)
02

Check for a Common Ratio

A geometric series has a constant ratio between successive terms. Calculate the ratio by dividing each term by its preceding term: \(\frac{2z}{1} = 2z\), \(\frac{(2z)^2}{2z} = 2z\), \(\frac{(2z)^3}{(2z)^2} = 2z\). The ratio between successive terms is consistently \(2z\), confirming the series is geometric.
03

Identify the First Term and Common Ratio

For a geometric series, the first term is the initial term of the series, and the common ratio is what we found earlier. Here, the first term \(a_1\) is \(1\), and the common ratio \(r\) is \(2z\).

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Series Terms
In the world of sequences and series, understanding individual series terms is essential. A series, in general, is a sum of terms of a sequence. Each term in the series can be expressed as a function of its position in the sequence.
For example, in the given series, the terms are distinct components of the sequence like:
  • First term: 1
  • Second term: \(2z\)
  • Third term: \((2z)^2\)
  • Fourth term: \((2z)^3\)
Identifying these individual terms allows us to analyze the pattern or rule that the series follows. This pattern is crucial to determine if a series is geometric, arithmetic, or neither.
Common Ratio
The common ratio is a fundamental component in the characterization of a geometric series. It is the factor that you multiply by to get from one term to the next. It remains consistent throughout the series, which is the distinctive characteristic of a geometric series.
To find the common ratio in a geometric series, you divide any term by its previous term. Let's do this for our series:
  • The ratio of the second term to the first term \(\frac{2z}{1} = 2z\)
  • The ratio of the third term to the second term \(\frac{(2z)^2}{2z} = 2z\)
  • The ratio of the fourth term to the third term \(\frac{(2z)^3}{(2z)^2} = 2z\)
Each ratio calculation gives us \(2z\), affirming the series is geometric with a common ratio of \(2z\). This consistency in the common ratio is what allows the series to be identified as a geometric series.
Geometric Progression
A geometric progression, often referred to as a geometric sequence, is when each term in the series is derived by multiplying the previous term by a fixed, non-zero number called the common ratio. This property makes geometric sequences incredibly predictable and easy to calculate if the first term and the common ratio are known.
The given series is an example of a geometric progression because:
  • The first term \(a_1\) is 1.
  • The consistent common ratio \(r\) throughout the series is \(2z\).
This pattern means each term is the product of the first term and a power of the common ratio, expressed as \(a_n = a_1 \cdot r^{(n-1)}\). Thus,
  • The second term is \(1 \cdot (2z)^1 = 2z\)
  • The third term is \(1 \cdot (2z)^2 = (2z)^2\)
  • The fourth term is \(1 \cdot (2z)^3 = (2z)^3\)
Understanding this exponential relationship makes working with geometric progressions straightforward, enabling easy predictions and calculations of further terms in the sequence.

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Most popular questions from this chapter

A ball is dropped from a height of 10 feet and bounces. Each bounce is \(\frac{3}{4}\) of the height of the bounce before. Thus, after the ball hits the floor for the first time, the ball rises to a height of \(10\left(\frac{3}{4}\right)=7.5\) feet, and after it hits the floor for the second time, it rises to a height of \(7.5\left(\frac{3}{4}\right)=10\left(\frac{3}{4}\right)^{2}=5.625\) feet. (a) Find an expression for the height to which the ball rises after it hits the floor for the \(n^{\text {th }}\) time. (b) Find an expression for the total vertical distance the ball has traveled when it hits the floor for the first, second, third, and fourth times. (c) Find an expression for the total vertical distance the ball has traveled when it hits the floor for the \(n^{\mathrm{th}}\) time. Express your answer in closed form.

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(a) What is the present value of a \(\$ 1000\) bond which pays \(\$ 50\) a year for 10 years, starting one year from now? Assume the interest rate is \(5 \%\) per year, compounded annually. (b) since \(\$ 50\) is \(5 \%\) of \(\$ 1000,\) this bond is called a \(5 \%\) bond. What does your answer to part (a) tell you about the relationship between the principal and the present value of this bond if the interest rate is \(5 \% ?\) (c) If the interest rate is more than \(5 \%\) per year, compounded annually, which is larger: the principal or the present value of the bond? Why is the bond then described as trading at a discount? (d) If the interest rate is less than \(5 \%\) per year, compounded annually, why is the bond described as trading at a premium?

This problem illustrates how banks create credit and can thereby lend out more money than has been deposited. Suppose that initially \(\$ 100\) is deposited in a bank. Experience has shown bankers that on average only \(8 \%\) of the money deposited is withdrawn by the owner at any time. Consequently, bankers feel free to lend out \(92 \%\) of their deposits. Thus \(\$ 92\) of the original \(\$ 100\) is loaned out to other customers (to start a business, for example). This \(\$ 92\) becomes someone else's income and, sooner or later, is redeposited in the bank. Thus \(92 \%\) of \(\$ 92,\) or \(\$ 92(0.92)=\$ 84.64,\) is loaned out again and eventually redeposited. Of the \(\$ 84.64,\) the bank again loans out \(92 \%,\) and so on. (a) Find the total amount of money deposited in the bank as a result of these transactions. (b) The total amount of money deposited divided by the original deposit is called the credit multiplier. Calculate the credit multiplier for this example and explain what this number tells us.

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