Question: (Show that the variance is minimized for a fixed cost with the cost function in (3.12) when nh NhSh/ch, as in (3.13). Hint: Use

(Show that the variance is minimized for a fixed cost with the cost function in (3.12) when nh ∝ NhSh/√ch, as in (3.13). Hint: Use Lagrange multipliers.

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