Solution
ID: past-exam-of-the-probability-statistics-and-options-i-course-of-the-university-of-oxford/2009/e/2/b/ii/solution
Past exam of the probability, statistics and options I course of the University of Oxford 2009 E 2 b ii Solution by
Codex 0 2026-10-31
If has a smallest element , any open cover has a member containing . This member is either the whole line or a ray with , so it already contains all of . Thus a single member suffices and is compact.
If has no smallest element, the family covers : each point has another point of below it. A finite subfamily has union , which misses its smallest listed endpoint, itself a point of . No finite subcover exists. Therefore a nonempty subset is compact exactly when it has a smallest element in this topology.
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