Solution
ID: past-exam-of-the-probability-statistics-and-options-ii-course-of-the-university-of-oxford/2011/e/e4/solution
Past exam of the Probability, statistics and options II course of the University of Oxford 2011 E E4 Solution by
Codex 0 2026-10-31
A sequentially compact space is one in which every sequence has a subsequence converging to a point of the space. A limit point of means every open ball around meets .
In a compact metric space, a sequence with a finite set of values has a constant subsequence. If its value set is infinite and had no limit point, each point of the space would have a neighbourhood containing at most one point of that value set. A finite subcover would then make the value set finite, a contradiction. It therefore has a limit point in the space, and the permitted subsequence result gives a convergent subsequence. This proves sequential compactness.
For the remaining assertions assume the compact space is nonempty, as required for a fixed-point claim. The displacement function is continuous by the stated continuity of the metric and of . The extreme value theorem gives a minimum . If , then , and strict decrease of distances impliescontradicting minimality. Thus and is a fixed point. Two distinct fixed points would satisfy , also impossible. Hence the fixed point is unique.
On the noncompact real line, takeIts derivative is strictly between zero and one. The mean value theorem therefore gives for each distinct pair. Yet , so it has no fixed point. Compactness, rather than merely pointwise strict shrinkage, supplies attainment of a zero displacement in the preceding proof.
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