Let $M$ be a multiplication operator on $L^2(\mathbb{R})$ defined by $$Mf(x) = m(x) f(x)$$ where $m(x)$ is continuous and bounded. Prove that $M$ is a bounded operator on $L^2(\mathbb{R})$ and that its spectrum is given by $$\sigma(M) = \overline{\{m(x) : x \in \mathbb{R}\}}.$$ Can $M$ have eigenvalues?
My partial answer is below:
First, observe that for $f \in L^2(\mathbb{R})$, $$\| Mf\|^2 = \|m(x) f(x) \|^2_{L^2} = \int_\mathbb{R} (m(x))^2 (f(x))^2 \leq \int_\mathbb{R} \|m\|_\infty (f(x))^2 = \|m\|_\infty \|f\|_{L^2}^2.$$ Since $m$ is continuous, $\|m\|_\infty = R$ for some constant $R$, so $M$ is bounded.
Define the set $X$ as $X = \overline{\{m(x) : x \in \mathbb{R}\}}$. I show $X \subset \sigma(M)$ by contrapositive. Suppose $\lambda \in \rho(M)$. Then $(M-\lambda I)$ is invertible. For $g\in L^2(\mathbb{R})$, $(M-\lambda I)g(x) = m(x)g(x) - \lambda g(x)$. Clearly, the inverse of this operator is $\frac{1}{M - \lambda I}$. As the inverse is well-defined and bounded, $m(x)g(x) - \lambda g(x) \not= 0$, which implies that $\lambda \not= m(x)$ for any $x\in\mathbb{R}$. Thus, $\lambda \not\in X$. Since the spectrum is closed, it follows that $X \subseteq \sigma(M)$.
I'm not sure how to proceed to show that $\sigma(M) \subseteq X$.
$X$ is closed ans bounded, hence compact. If $\lambda \notin X$ the there exists $\epsilon >0$ such that $|\lambda -y| >\epsilon$ for all $y \in X$. Define $T$ by $Tf(x)=\frac 1 {m(x)-\lambda} f(x)$. Then $T$ is a bounded operator with $\|T\| \leq \frac 1 {\epsilon}$. [This is proved exactly the way you proved that $\|M\| \leq \|m\|_{\infty}$].
Now verify that $S(M-\lambda I)=(M-\lambda I)S=I$. Thus $M-\lambda I$ is invertible and $\lambda$ is not in the spectrum of $M$.