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Flashcard 1425760718092

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
An important concept in the market model is [...] , defined as the condition in which the quantity willingly offered for sale by sellers at a given price is just equal to the quantity willingly demanded by buyers at that same price.


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An important concept in the market model is market equilibrium , defined as the condition in which the quantity willingly offered for sale by sellers at a given price is just equal to the quantity willingly demanded by buyers at that same price.</s

Original toplevel document

3.6. Market Equilibrium
An important concept in the market model is market equilibrium , defined as the condition in which the quantity willingly offered for sale by sellers at a given price is just equal to the quantity willingly demanded by buyers at that same price. When that condition is met, we say that the market has discovered its equilibrium price. An alternative and equivalent condition of equilibrium occurs at that quantity at which the highest price a buyer is willing to pay is just equal to the lowest price a seller is willing to accept for that same quantity. As we have discovered in the earlier sections, the demand curve shows (for given values of income, other prices, etc.) an infinite number of combinations of prices and qua







Flashcard 1430497922316

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
for some goods and some ranges of income, consumer income might not have an impact on purchase decision at all. Hence for those goods, income elasticity of demand is [...]
Answer
zero.


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for some goods and some ranges of income, consumer income might not have an impact on purchase decision at all. Hence for those goods, income elasticity of demand is zero.

Original toplevel document

4.3. Income Elasticity of Demand: Normal and Inferior Goods
up but inferior for a high-income group of consumers. As their respective income levels rose, the moderate group might purchase more BMWs whereas the upper-income group might buy fewer 3-series as they traded up to a 5- or 7-series.) Clearly, <span>for some goods and some ranges of income, consumer income might not have an impact on purchase decision at all. Hence for those goods, income elasticity of demand is zero. Thinking back to our discussion of the demand curve, recall that we invoked the assumption of “holding all other things constant” when we plotted the relationship between p







Flashcard 1447495601420

Tags
#7-important-definitions #language-and-reality #sister-miriam-joseph #trivium
Question
Matter, extended by [...], must be this or that matter.
Answer
reason of its quantity

which by limiting the form individuates it.


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Essence is that which makes the individual like other members of its class. Quantified matter is that which makes t he individual different from other individuals in its class because matter, extended by reason of its quantity, must be this or that matter, which by limiting the

Original toplevel document (pdf)

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Flashcard 1603057093900

Tags
#cfa-level-1 #financial-reporting-and-analysis #reading-26-understanding-balance-sheets
Question
Marketable securities. Valued at [...]
Answer
cost or lower of cost and market value.


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Subject 2. Measurement Bases of Assets and Liabilities
found in the current assets section are: Cash. Valued at its stated value. Cash restricted for purpose other than payment of current obligations or for use in current operations should be excluded from the current asset section. <span>Marketable securities. Valued at cost or lower of cost and market value. Accounts receivables. Amounts owed to the company by its customers for goods and services delivered. Valued at the estimated amount collectible. Inventories. Products that will be sold







Flashcard 1635121761548

Tags
#statistical-concepts-and-market-returns
Question

Construction of a Frequency Distribution.

  1. [...]

  2. Calculate the range of the data, defined as Range = Maximum value − Minimum value.

  3. Decide on the number of intervals in the frequency distribution, k.

  4. Determine interval width as Range/k

Answer
Sort the data in ascending order.


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Flashcard 1637280255244

Tags
#statistical-concepts-and-market-returns
Question

Construction of a Frequency Distribution.

  1. Determine interval width as [...]

  2. Determine the intervals by successively adding the interval width to the minimum value, to determine the ending points of intervals, stopping after reaching an interval that includes the maximum value.

  3. Count the number of observations falling in each interval.

  4. Construct a table of the intervals listed from smallest to largest that shows the number of observations falling in each interval.

Answer
Range/k.


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#polity #president
The President is indirectly elected: they are selected by members of the Parliament of India (both houses) and the Legislative Assemblies of each of India's states and territories

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President of India - Wikipedia
January 1950 Deputy Vice President of India Salary ₹500,000 (US$7,800) (per month) [1] Website President of India The President of the Republic of India is the head of state of India and the commander-in-chief of the Indian Armed Forces. <span>The President is indirectly elected: they are selected by members of the Parliament of India (both houses) and the Legislative Assemblies of each of India's states and territories, who themselves are all directly elected. The office-holder serves for a term of five years; there are no term limits. The oath of the President is taken in the presence of the Chief Ju




The office-holder serves for a term of five years; there are no term limits

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President of India - Wikipedia
dian Armed Forces. The President is indirectly elected: they are selected by members of the Parliament of India (both houses) and the Legislative Assemblies of each of India's states and territories, who themselves are all directly elected. <span>The office-holder serves for a term of five years; there are no term limits. The oath of the President is taken in the presence of the Chief Justice of India, and in his/her absence, by the most senior judge of the Supreme Court of India. Although the Article




The oath of the President is taken in the presence of the Chief Justice of India, and in his/her absence, by the most senior judge of the Supreme Court of India

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President of India - Wikipedia
y members of the Parliament of India (both houses) and the Legislative Assemblies of each of India's states and territories, who themselves are all directly elected. The office-holder serves for a term of five years; there are no term limits. <span>The oath of the President is taken in the presence of the Chief Justice of India, and in his/her absence, by the most senior judge of the Supreme Court of India. Although the Article 53 of the Constitution of India states that the President can exercise his powers directly or by subordinate authority, [2] with few exceptions, all of the exec




Flashcard 1640936639756

Tags
#president
Question
When will Ram Nath Kovind take office as President of India?
Answer
The 14th and next President will be Ram Nath Kovind, whose election was announced on 20 July 2017, and who will take office on 25 July 2017


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President of India - Wikipedia
n as the Rashtrapati Bhavan [3] (which roughly translates as President's House) situated in Raisina Hill in New Delhi. The presidential retreats are The Retreat in Chharabra, Shimla and Rashtrapati Nilayam (President's Place) in Hyderabad. <span>The 14th and next President will be Ram Nath Kovind, whose election was announced on 20 July 2017, [4] [5] [6] [7] and who will take office on 25 July 2017. Republic of India [imagelink] This article is part of a series on the politics and government of India Union Government[show] Constitution of India Fundamental rights







The Protection of Children from Sexual Offences Act, 2012

Definition of a child under the Act: The Act is gender-neutral and defines a child as any person below the age of eighteen years.

The Protection of Children from Sexual Offences Act, 2012 provides:

  1. Precise definitions for different types of Child abuse crimes
  2. Stringent punishments
  3. Mandatory reporting
  4. Child-friendly procedures
  5. Under Section 45 of the Act, the power to make rules rests with the Central Government
  6. Qualifications and experience of interpreters
  7. Arrangements for care and protection
  8. Criteria for award of compensation by the Special Court
  9. The rules rely on the structures established under the Juvenile Justice Act, 2000.

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Mentally retarded adult not a child: SC – Civilsdaily
child’ in Section 2(d) is exhaustive and includes only persons below the biological age of 18. The 2012 Act recognises the phenomenon of “ mental disability ,” but confines its ambit to only the mental disability of minors. Back2basics <span>The Protection of Children from Sexual Offences Act, 2012 Definition of a child under the Act: The Act is gender-neutral and defines a child as any person below the age of eighteen years. The Protection of Children from Sexual Offences Act, 2012 provides: Precise definitions for different types of Child abuse crimes Stringent punishments Mandatory reporting Child-friendly procedures Under Section 45 of the Act, the power to make rules rests with the Central Government Qualifications and experience of interpreters Arrangements for care and protection Criteria for award of compensation by the Special Court The rules rely on the structures established under the Juvenile Justice Act, 2000. The Hindu Post navigation Previous Previous post: Rs87,000 crore of right to education funds unused by states, says CAG Next Next post




Flashcard 1640946339084

Question
RTE Act is applicable to which age group?
Answer
The RTE Act, 2009 envisages free and compulsory elementary education to every child in the age group of 6-14 years


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Daily Current Affairs for IAS UPSC Exam Preparation – Civilsdaily
recommendations Better monitoring of funds allocated. Centre and states to finalize an annual work plan and budget for RTE in alignment with the Union budget for better coordination and utilization. Back2basics The RTE Act, 2009 <span>The RTE Act, 2009 envisages free and compulsory elementary education to every child in the age group of 6-14 years . The section 23(2) of the Act specifies that all teachers at elementary level at commencement of this law if did not possess minimum qualifications under it need to acquire these w







The section 23(2) of the Act specifies that all teachers at elementary level at commencement of this law if did not possess minimum qualifications under it need to acquire these within a period of five years

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Primary and Secondary Education – RTE, Education Policy, SEQI, RMSA, Committee Reports, etc. – Civilsdaily
for RTE in alignment with the Union budget for better coordination and utilization. Back2basics The RTE Act, 2009 The RTE Act, 2009 envisages free and compulsory elementary education to every child in the age group of 6-14 years . <span>The section 23(2) of the Act specifies that all teachers at elementary level at commencement of this law if did not possess minimum qualifications under it need to acquire these within a period of five years. Right to Education Act: Main Features Education as Fundamental Right: Every Child of the age group of 6-14 years shall have right to free and compulsory Education. No child is




Education as Fundamental Right:

  1. Every Child of the age group of 6-14 years shall have right to free and compulsory Education.
  2. No child is liable to pay any kind of fee/ capitation fee/ charges.
  3. A collection of capitation fee invites a fine up to 10 times the amount collected.

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Primary and Secondary Education – RTE, Education Policy, SEQI, RMSA, Committee Reports, etc. – Civilsdaily
23(2) of the Act specifies that all teachers at elementary level at commencement of this law if did not possess minimum qualifications under it need to acquire these within a period of five years. Right to Education Act: Main Features <span>Education as Fundamental Right: Every Child of the age group of 6-14 years shall have right to free and compulsory Education. No child is liable to pay any kind of fee/ capitation fee/ charges. A collection of capitation fee invites a fine up to 10 times the amount collected. Children from Disadvantaged Group: This right provides that “child belonging to disadvantage group” means a child who Belongs to SC & ST Socially backward class. Geographical,




#polity #rte

This right provides that “child belonging to disadvantage group” means a child who

  1. Belongs to SC & ST
  2. Socially backward class.
  3. Geographical, Linguistic, Gender or such other matters.
  4. Is differentially abled

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Primary and Secondary Education – RTE, Education Policy, SEQI, RMSA, Committee Reports, etc. – Civilsdaily
have right to free and compulsory Education. No child is liable to pay any kind of fee/ capitation fee/ charges. A collection of capitation fee invites a fine up to 10 times the amount collected. Children from Disadvantaged Group: <span>This right provides that “child belonging to disadvantage group” means a child who Belongs to SC & ST Socially backward class. Geographical, Linguistic, Gender or such other matters. Is differentially abled. Live Mint June 26, 2017 HRD wants skill courses enrolment to be taken into account in GER calculation Note4students Mains Pap




Flashcard 1640957611276

Tags
#polity #rte
Question

This right provides that “child belonging to disadvantage group” means a child who

[...]
Answer
Belongs to SC & STSocially backward class.Geographical, Linguistic, Gender or such other matters.Is differentially abled


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This right provides that “child belonging to disadvantage group” means a child who Belongs to SC & ST Socially backward class. Geographical, Linguistic, Gender or such other matters. Is differentially abled

Original toplevel document

Primary and Secondary Education – RTE, Education Policy, SEQI, RMSA, Committee Reports, etc. – Civilsdaily
have right to free and compulsory Education. No child is liable to pay any kind of fee/ capitation fee/ charges. A collection of capitation fee invites a fine up to 10 times the amount collected. Children from Disadvantaged Group: <span>This right provides that “child belonging to disadvantage group” means a child who Belongs to SC & ST Socially backward class. Geographical, Linguistic, Gender or such other matters. Is differentially abled. Live Mint June 26, 2017 HRD wants skill courses enrolment to be taken into account in GER calculation Note4students Mains Pap







Flashcard 1640963640588

Tags
#polity #rte
Question
what are the main features of RTE Act?
Answer

Education as Fundamental Right:

  1. Every Child of the age group of 6-14 years shall have right to free and compulsory Education.
  2. No child is liable to pay any kind of fee/ capitation fee/ charges.
  3. A collection of capitation fee invites a fine up to 10 times the amount collected.


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Education as Fundamental Right: Every Child of the age group of 6-14 years shall have right to free and compulsory Education. No child is liable to pay any kind of fee/ capitation fee/ charges. A collection of capitation fee invites a fine up to 10 times the amount collected.

Original toplevel document

Primary and Secondary Education – RTE, Education Policy, SEQI, RMSA, Committee Reports, etc. – Civilsdaily
23(2) of the Act specifies that all teachers at elementary level at commencement of this law if did not possess minimum qualifications under it need to acquire these within a period of five years. Right to Education Act: Main Features <span>Education as Fundamental Right: Every Child of the age group of 6-14 years shall have right to free and compulsory Education. No child is liable to pay any kind of fee/ capitation fee/ charges. A collection of capitation fee invites a fine up to 10 times the amount collected. Children from Disadvantaged Group: This right provides that “child belonging to disadvantage group” means a child who Belongs to SC & ST Socially backward class. Geographical,







State of defence production in india
India, the world’s largest arms importer, relies on imports to meet more than [...] of its defence requirements So far, technology was imported and the products manufactured at home, at cut-rate prices Currently, the FDI in Defence Sector is capped at [...] and cases for higher FDI are considered on case to case basis

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Defence Sector – DPP, Security forces, etc. – Civilsdaily
phasis is on ensuring that Indian players tap the best domestic technical intellect, generously invest in R&D , and thereby, retain ownership of the all-important applied technology. What is the state of Defence production in India? <span>India, the world’s largest arms importer, relies on imports to meet more than 70% of its defence requirements So far, technology was imported and the products manufactured at home, at cut-rate prices Currently, the FDI in Defence Sector is capped at 49% and cases for higher FDI are considered on case to case basis What is DPP and historical background? DPP is the governing manual for all defence procurement. It was part of a set of military reforms undertaken to address the many deficiencie




DPP is the governing manual for all defence procurement. It was part of a set of military reforms undertaken to address the many deficiencies noticed during the 1999 Kargil war.

It was launched for the first time in 2002, and since then, DPP has been revised periodically. The DPP 2016 is based on the recommendations of the expert committee headed by former Home Secretary Dhirendra Singh, which submitted its report last year; most of its suggestions are accepted.

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Defence Sector – DPP, Security forces, etc. – Civilsdaily
ogy was imported and the products manufactured at home, at cut-rate prices Currently, the FDI in Defence Sector is capped at 49% and cases for higher FDI are considered on case to case basis What is DPP and historical background? <span>DPP is the governing manual for all defence procurement. It was part of a set of military reforms undertaken to address the many deficiencies noticed during the 1999 Kargil war. It was launched for the first time in 2002, and since then, DPP has been revised periodically . The DPP 2016 is based on the recommendations of the expert committee headed by former Home Secretary Dhirendra Singh, which submitted its report last year; most of its suggestions are accepted. [imagelink] What’s new in the DPP 2016? It seeks to address the concerns of defence manufacturers and suppliers and enhanced transparency. Included a new category to acquire wea




What’s new in the DPP 2016?

It seeks to address the concerns of defence manufacturers and suppliers and enhanced transparency.

  • Included a new category to acquire weapons–IDDM (Indigenously Designed, Developed and Manufactured). IDDM will be the first preferred category of preference
  • A 10% weightage has been introduced for superior technology, instead of selecting the lowest bidder only in financial terms
  • Govt funding for R&D and recognition of the MSME in technology development
  • Defence Acquisition Council to take a “fast-track” route to acquire weapons, something which was limited to only armed forces till now
  • Defence export clearances will now be granted online

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Defence Sector – DPP, Security forces, etc. – Civilsdaily
s been revised periodically . The DPP 2016 is based on the recommendations of the expert committee headed by former Home Secretary Dhirendra Singh, which submitted its report last year; most of its suggestions are accepted. [imagelink] <span>What’s new in the DPP 2016? It seeks to address the concerns of defence manufacturers and suppliers and enhanced transparency. Included a new category to acquire weapons– IDDM (Indigenously Designed, Developed and Manufactured). IDDM will be the first preferred category of preference A 10% weightage has been introduced for superior technology , instead of selecting the lowest bidder only in financial terms Govt funding for R&D and recognition of the MSME in technology development Defence Acquisition Council to take a “ fast-track” route to acquire weapons, something which was limited to only armed forces till now Defence export clearances will now be granted online What does the DPP offer for foreign investors? The offset threshold will be raised, with foreign vendors liable for offsets only in contracts worth over Rs 2,000 crore, from earlier




What are the important categories in the policy?

  • Buy (Indian-IDDM) : At least 40% of a product must be manufactured in India for it to qualify for the Indian Designed, Developed and Manufactured category. If the equipment is not indigenously designed, but constitutes 60% indigenous content on cost basis of total contract value. This will be also accorded priority. This category will be preferred to vendors offering equipment designed abroad
  • Buy (Indian): An equipment from Indian vendors could be procured, only if it comprises of a minimum of 40% indigenous content on cost basis of the total contract value
  • Make category: Make-I category utilises critical technologies and involves huge infrastructure investment; on the other hand, Make-II category entails use of commercial, military or even dual-use technologies, and is operated on a smaller scale. It seeks to promote SMEs

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Defence Sector – DPP, Security forces, etc. – Civilsdaily
r foreign investors? The offset threshold will be raised, with foreign vendors liable for offsets only in contracts worth over Rs 2,000 crore, from earlier Rs 300 crore. Apart from this, govt has also decided to fast track the procedures. <span>What are the important categories in the policy? Buy (Indian-IDDM) : At least 40% of a product must be manufactured in India for it to qualify for the Indian Designed, Developed and Manufactured category. If the equipment is not indigenously designed, but constitutes 60% indigenous content on cost basis of total contract value. This will be also accorded priority. This category will be preferred to vendors offering equipment designed abroad Buy (Indian): An equipment from Indian vendors could be procured, only if it comprises of a minimum of 40% indigenous content on cost basis of the total contract value Make category: Make-I category utilises critical technologies and involves huge infrastructure investment; on the other hand, Make-II category entails use of commercial, military or even dual-use technologies, and is operated on a smaller scale. It seeks to promote SMEs The DPP accords higher priority to categories, which mandate high levels of indigenisation, while it gives l ower priority to categories, which allow a greater role to foreign pro




Why it is necessary to go for Indigenisation of defence equipments?

First of all, India has all the necessary prerequisites for a robust military-industrial complex: a diverse private sector, a large base of engineering institutes, and a growing defence budget.

However, India also faces a combination of security threats from both state and non-state actors is an obvious reason by it needs to be self-reliant in military equipment. It will also significantly reduce the potential for corruption in military procurement.

The move will give fillip to make in India and job creation. It will also bring down dependence on imports.

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Defence Sector – DPP, Security forces, etc. – Civilsdaily
on a smaller scale. It seeks to promote SMEs The DPP accords higher priority to categories, which mandate high levels of indigenisation, while it gives l ower priority to categories, which allow a greater role to foreign production. <span>Why it is necessary to go for Indigenisation of defence equipments? First of all, India has all the necessary prerequisites for a robust military-industrial complex : a diverse private sector, a large base of engineering institutes, and a growing defence budget. However, India also faces a combination of security threats from both state and non-state actors is an obvious reason by it needs to be self-reliant in military equipment. It will also significantly reduce the potential for corruption in military procurement. The move will give fillip to make in India and job creation. It will also bring down dependence on imports. Future The FDI ceiling in defence should be revised upward from current 49%. Original equipment makers are not willing to part with their technology when they don’t have control Emp




Flashcard 1640979369228

Question
What is WWR?
Answer
WWR is the reserve quantity of ammunition needed to meet the requirements for the expected duration of operations


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Defence Sector – DPP, Security forces, etc. – Civilsdaily
during the period 2013-14 to 2016-17 (till September 2016) Concerns Despite a lapse of more than three years (from March 2013) no significant improvement in the availability of WWR ammunition was noticed in audit Back2basics WWR <span>WWR is the reserve quantity of ammunition needed to meet the requirements for the expected duration of operations. The Hindu July 5, 2017 [op-ed snap] India’s quest for armed drones Source Note4Students: Mains Paper 3: Science & Technology







World Customs Organization

  1. The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium
  2. It has 182 member nations (including India) that manage more than 98% of world trade.
  3. The WCO is noted for its work in areas covering the development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue, supply chain security, international trade facilitation, customs enforcement activities, combating counterfeiting in support of Intellectual Property Rights (IPR), drugs enforcement, illegal weapons trading, integrity promotion, and delivering sustainable capacity building to assist with customs reforms and modernization
  4. The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin

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Daily Current Affairs for IAS UPSC Exam Preparation – Civilsdaily
ims to cut cargo release time for exports and imports as part of measures to boost goods trade The NTFAP is to be implemented between 2017 and 2020, is part of India’s efforts to improve its ease of doing business ranking Back2basics <span>World Customs Organization The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium It has 182 member nations ( including India ) that manage more than 98% of world trade. The WCO is noted for its work in areas covering the development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue, supply chain security, international trade facilitation, customs enforcement activities, combating counterfeiting in support of Intellectual Property Rights (IPR) , drugs enforcement, illegal weapons trading, integrity promotion, and delivering sustainable capacity building to assist with customs reforms and modernization The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin Trade Facilitation Agreement (TFA) The TFA is the WTO’s first-ever multilateral accord that aims to simplify customs regulations for the cross-border movement of goods. It was out




#fta #un #wto

Trade Facilitation Agreement (TFA)

  1. The TFA is the WTO’s first-ever multilateral accord that aims to simplify customs regulations for the cross-border movement of goods. It was outcome of WTO’s 9th Bali (Indonesia) ministerial package of 2013
  2. The agreement includes provisions for Lowering import tariffs and agricultural subsidies: It will make it easier for developing countries to trade with the developed world in global markets
  3. Abolish hard import quotas: Developed countries would abolish hard import quotas on agricultural products from the developing world and instead would only be allowed to charge tariffs on amount of agricultural imports exceeding specific limits
  4. Reduction in red tape at international borders: It aims to reduce red-tapism to facilitate trade by reforming customs bureaucracies and formalities

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Daily Current Affairs for IAS UPSC Exam Preparation – Civilsdaily
s reforms and modernization The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin <span>Trade Facilitation Agreement (TFA) The TFA is the WTO’s first-ever multilateral accord that aims to simplify customs regulations for the cross-border movement of goods. It was outcome of WTO’s 9th Bali (Indonesia) ministerial package of 2013 The agreement includes provisions for Lowering import tariffs and agricultural subsidies: It will make it easier for developing countries to trade with the developed world in global markets Abolish hard import quotas: Developed countries would abolish hard import quotas on agricultural products from the developing world and instead would only be allowed to charge tariffs on amount of agricultural imports exceeding specific limits Reduction in red tape at international borders: It aims to reduce red-tapism to facilitate trade by reforming customs bureaucracies and formalities. The Hindu July 22, 2017 [op-ed snap] The need for lateral entry in civil services [imagelink] Image source Note4studert




Flashcard 1640984874252

Question
[default - edit me]
Answer

What is NTFAP?

  1. It aims to cut cargo release time for exports and imports as part of measures to boost goods trade
  2. The NTFAP is to be implemented between 2017 and 2020, is part of India’s efforts to improve its ease of doing business ranking


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Daily Current Affairs for IAS UPSC Exam Preparation – Civilsdaily
he NTFAP “go beyond” the implementation requirements of the World Trade Organisation’s Trade Facilitation Agreement (TFA) The TFA is meant to ease Customs norms for faster flow of goods across borders- had come into effect in February 2017 <span>What is NTFAP? It aims to cut cargo release time for exports and imports as part of measures to boost goods trade The NTFAP is to be implemented between 2017 and 2020, is part of India’s efforts to improve its ease of doing business ranking Back2basics World Customs Organization The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium It has 182 member







Flashcard 1640988544268

Tags
#discounted-cashflow-applications
Question
Can I calculate the dollar weighted return if t=0 is unknown?
Answer
No, you need to know every cashflow


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Rules
#janki
The first rule of Janki boosts your memory:
“Every time you learn something new create a question and answer flashcard and add this card to Anki.”

The second rule of Janki encourages a commitment to daily learning:
“You must use Anki every single day - including weekends and holidays - and commit to doing so indefinitely.”

The third rule of Janki keeps you focused on what is important in the moment:
“Learn in context. Pick a project, and learn only what you need to get it done.”

The fourth rule of Janki grounds knowledge in reality:
“Only add a card to your deck after having tried to use the item of knowledge therein.”

The fifth rule of Janki method minimizes mistake repetition.
“Every time you make a mistake carry out a post-mortem and try to figure out the lessons in the experience. Think about what you would need to know to prevent that mistake from occurring again, and turn this insight into new flashcards.”

The sixth rule of Janki method encourages regular critical reflection:
“At the end of every project ask yourself what lessons you learned and what you would do differently if you were to repeat the project with the benefit of hindsight.”

The seventh rule of Janki keeps your decks in shape.
“Delete or modify any incorrect, outdated, difficult to remember, incomplete or unnecessary cards. Update existing cards as improved understanding dawns.”

The eighth rule of Janki encourages you to use your readings of other people’s code as a source of learning:
“Read the subject regularly. If you come across something interesting create a card detailing the technique.”

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Frequency distribution steps
#reading-8-statistical-concepts-and-market-returns

Construction of a Frequency Distribution.

  1. Sort (in ascending order)

  2. Calculate the range (Range = Maximum value − Minimum value)

  3. Intervals creation (decide the number you will put in the frequency distribution, k.)

  4. Width determination ( interval width = Range/k.)

  5. Add the interval width to the minimum value (stop after reaching an interval that includes the maximum value)

  6. Count (the number of observations in each interval)

  7. Table (make a table of intervals from small to large that shows the number of observations in each one)

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Flashcard 1641023147276

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Cual es el acrónimo para la construccion de una frequecy table?
Answer
SCIWAC


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Frequency distribution steps
Construction of a Frequency Distribution. Sort (in ascending order) Calculate the range (Range = Maximum value − Minimum value) Intervals creation (decide the number you will put in the frequency distribution, k.)







Flashcard 1641025506572

Tags
#reading-8-statistical-concepts-and-market-returns
Question

Construction of a Frequency Distribution.

  1. S [...]

  2. C [...]

Answer
Sort (in ascending order)

C
alculate the range


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Frequency distribution steps
Construction of a Frequency Distribution. Sort (in ascending order) Calculate the range (Range = Maximum value − Minimum value) Intervals creation (decide the number you will put in the frequency distribution, k.) Width determination ( interval width = Range/k.) Ad







Flashcard 1641027865868

Tags
#reading-8-statistical-concepts-and-market-returns
Question

How do you calculate the range (Range = [...] )

(second step in frequency distribution)

Answer
Maximum value − Minimum value


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Frequency distribution steps
Construction of a Frequency Distribution. Sort (in ascending order) Calculate the range (Range = Maximum value − Minimum value) Intervals creation (decide the number you will put in the frequency distribution, k.) Width determination ( interval width = Range/k.) Ad







Flashcard 1641029700876

Tags
#reading-8-statistical-concepts-and-market-returns
Question

Construction of a frequency distribution

3.- I [...]

4.-W [...]

Answer
Intervals creation

Width determination


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Frequency distribution steps
Construction of a Frequency Distribution. Sort (in ascending order) Calculate the range (Range = Maximum value − Minimum value) Intervals creation (decide the number you will put in the frequency distribution, k.) Width determination ( interval width = Range/k.) Add the interval width to the minimum value (stop after reaching an interval that includes the maximum value) Count (the number of observations in each i







Flashcard 1641032060172

Tags
#reading-8-statistical-concepts-and-market-returns
Question

Construction of a frequency distribution

3.- Intervals creation ( [...] .)

4.-Width determination (interval width [...] )

Answer
decide the number you will put in the frequency distribution, k

interval width = Range/k.


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Frequency distribution steps
Construction of a Frequency Distribution. Sort (in ascending order) Calculate the range (Range = Maximum value − Minimum value) Intervals creation (decide the number you will put in the frequency distribution, k.) Width determination ( interval width = Range/k.) Add the interval width to the minimum value (stop after reaching an interval that includes the maximum value) Count (the number of observations in each i







Flashcard 1641034681612

Tags
#reading-8-statistical-concepts-and-market-returns
Question

Construction of a Frequency Distribution.

5.-A [...]

6.-C [...]

Answer
Add the interval width to the minimum value

Count the number of observations in each interval


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Frequency distribution steps
alculate the range (Range = Maximum value − Minimum value) Intervals creation (decide the number you will put in the frequency distribution, k.) Width determination ( interval width = Range/k.) <span>Add the interval width to the minimum value (stop after reaching an interval that includes the maximum value) Count (the number of observations in each interval) Table (make a table of intervals from small to large that shows the number of observations in each one) <span><body><html>







Flashcard 1641037040908

Tags
#reading-8-statistical-concepts-and-market-returns


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Frequency distribution steps
ion ( interval width = Range/k.) Add the interval width to the minimum value (stop after reaching an interval that includes the maximum value) Count (the number of observations in each interval) <span>Table (make a table of intervals from small to large that shows the number of observations in each one) <span><body><html>







Flashcard 1641040448780

Tags
#statistical-concepts-and-market-returns
Question

The letter k represents [...]

Answer
an interval


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Frequency distributions interval width
#reading-8-statistical-concepts-and-market-returns
Although some guidelines for setting k have been suggested in statistical literature, the setting of a useful value for k often involves inspecting the data and exercising judgment. How much detail should we include? If we use too few intervals, we will summarize too much and lose pertinent characteristics. If we use too many intervals, we may not summarize enough.

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Flashcard 1641045167372

Tags
#reading-8-statistical-concepts-and-market-returns
Question
To choose the width of the intervals, how should we start?
Answer
Starting small and going up


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Flashcard 1641047002380

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Starting from small K to larger, what give you the cue there are too many?
Answer
if a lot of the intervals are mostly empty


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Flashcard 1641048837388

Tags
#reading-8-statistical-concepts-and-market-returns
Question
When choosing k we need to keep in mind that the purpose of a frequency distribution is to [...]
Answer
summarize the data.


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Flashcard 1641051458828

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The arithmetic mean can be likened to [...]
Answer
the center of gravity of an object.


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Flashcard 1641053293836

Tags
#reading-8-statistical-concepts-and-market-returns
Question
How is the distance between the mean and each outcome called ?
Answer
deviation.


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Flashcard 1641055128844

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Mathematically, it is always true that the sum of the deviations around the mean equals [...]
Answer
0


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Flashcard 1641056963852

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Deviations from the arithmetic mean are important information because they indicate [...]
Answer
risk.


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Flashcard 1641058798860

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The concept of [...] forms the foundation for the more complex concepts of variance, skewness, and kurtosis
Answer
deviations around the mean


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Flashcard 1641060633868

Tags
#reading-8-statistical-concepts-and-market-returns
Question
A property and potential drawback of the arithmetic mean is its [...]
Answer
sensitivity to extreme values


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Flashcard 1641062468876

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The [...] is the value of the middle item of a set of items that has been sorted into ascending or descending order.
Answer


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Flashcard 1641064303884

Tags
#reading-8-statistical-concepts-and-market-returns
Question
In an odd-numbered sample of n items, the median occupies the [...] position.
Answer
(n + 1)/2


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Flashcard 1641066138892

Tags
#reading-8-statistical-concepts-and-market-returns
Question
In an even-numbered sample, we define the median as the mean of the values of items occupying the [...] and [...] positions
Answer
n/2

(n + 2)/2

(the two middle items)


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#reading-8-statistical-concepts-and-market-returns
The notation Md is occasionally used for the median. Just as for the mean, we may distinguish between a population median and a sample median. With the understanding that a population median divides a population in half while a sample median divides a sample in half, we follow general usage in using the term “median” without qualification, for the sake of brevity.

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#reading-8-statistical-concepts-and-market-returns
Whether we use the calculation for an even- or odd-numbered sample, an equal number of observations lie above and below the median.

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Flashcard 1641071643916

Tags
#reading-8-statistical-concepts-and-market-returns
Question
What does it mean that the median is less mathematically tractable than the mean.
Answer
Calculating the median is more complex, order the observations from smallest to largest, determine whether the sample size is even or odd and, on that basis, apply one of two calculations


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Flashcard 1641074003212

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Stock return data and other data from [...] distributions may not have a modal outcome
Answer
continuous


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Flashcard 1641075838220

Tags
#reading-8-statistical-concepts-and-market-returns
Question
When continuous data (less likely to have mode) is grouped into intervals, we often find an interval (or more) with the highest frequency: the [...]


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Flashcard 1641077673228

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The modal interval always has the [...] in the histogram.
Answer
highest bar


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Flashcard 1641079508236

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The [...] is the only measure of central tendency that can be used with nominal data
Answer
mode


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Flashcard 1641081343244

Tags
#reading-8-statistical-concepts-and-market-returns
Question
In the arithmetic mean, all observations are equally weighted by the factor [...]
Answer
1/n (or 1/N)


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Flashcard 1641083178252

Tags
#reading-8-statistical-concepts-and-market-returns
Question
An average in which each observation is weighted by an index of its relative importance.
Answer
Weighted mean


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Flashcard 1641085013260

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The weighted mean ¯¯¯Xw , for a set of observations X1, X2, …, Xn with corresponding weights of w1, w2, …, wn is computed as:
Answer

\(\bar{X}_w = \displaystyle\sum_{i=1}^n W_iX_i\)


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Flashcard 1641087110412

Tags
#reading-8-statistical-concepts-and-market-returns
Question
What does it mean that the median is less mathematically tractable than the mean.
Answer
Calculating the median is more complex, order the observations from smallest to largest, determine whether the sample size is even or odd and, on that basis, apply one of two calculations


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#reading-8-statistical-concepts-and-market-returns
The arithmetic mean is a special case of the weighted mean in which all the weights are equal to 1/n.

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Flashcard 1641090256140

Tags
#reading-8-statistical-concepts-and-market-returns
Question
In the context of portfolios, a positive weight represents an [...] and a negative weight represents an [...]
Answer
asset held long

asset held short.


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#reading-8-statistical-concepts-and-market-returns

Now suppose that the portfolio manager maintains constant weights of 60 percent in stocks and 40 percent in bonds for all five years. This method is called a constant-proportions strategy. Because value is price multiplied by quantity, price fluctuation causes portfolio weights to change. As a result, the constant-proportions strategy requires rebalancing to restore the weights in stocks and bonds to their target levels. Assuming that the portfolio manager is able to accomplish the necessary rebalancing, we can compute the portfolio returns in 2009, 2010, 2011, and 2012 with Equation 4 as follows:

Portfolio return for 2009 = 0.60(34.1) + 0.40(11.0) = 24.9%

Portfolio return for 2010 = 0.60(16.8) + 0.40(6.4) = 12.6%

Portfolio return for 2011 = 0.60(–9.2) + 0.40(8.4) = –2.2%

Portfolio return for 2012 = 0.60(6.4) + 0.40(3.8) = 5.4%

We can now find the time-series mean of the returns for 2008 through 2012 using Equation 3 for the arithmetic mean. The time-series mean total return for the portfolio is (−19.9 + 24.9 + 12.6 − 2.2 + 5.4)/5 = 20.8/5 = 4.2 percent.

Instead of calculating the portfolio time-series mean return from portfolio annual returns, we can calculate the arithmetic mean stock and bond fund returns for the five years and then apply the portfolio weights of 0.60 and 0.40, respectively, to those values. The mean stock fund return is (−33.1 + 34.1 + 16.8 − 9.2 + 6.4)/5 = 15.0/5 = 3.0 percent. The mean bond fund return is (−0.1 + 11.0 + 6.4 + 8.4 + 3.8)/ 5 = 29.5/5 = 5.9 percent. Therefore, the mean total return for the portfolio is 0.60(3.0) + 0.40(5.9) = 4.2 percent, which agrees with our previous calculation.

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Flashcard 1641096023308

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Market indexes are computed as [...]
Answer
weighted averages.


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Flashcard 1641097858316

Tags
#reading-8-statistical-concepts-and-market-returns
Question
When we take a weighted average of forward-looking data, the weighted mean is called [...]
Answer


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Flashcard 1641099693324

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The probability-weighted average of the possible outcomes of a random variable.
Answer


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Expected Value-Weighted mean
#reading-8-statistical-concepts-and-market-returns
Suppose we make one forecast for the year-end level of the S&P 500 assuming economic expansion and another forecast for the year-end level of the S&P 500 assuming economic contraction. If we multiply the first forecast by the probability of expansion and the second forecast by the probability of contraction and then add these weighted forecasts, we are calculating the expected value of the S&P 500 at year-end. If we take a weighted average of possible future returns on the S&P 500, we are computing the S&P 500’s expected return.

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Flashcard 1641103363340

Tags
#reading-8-statistical-concepts-and-market-returns
Question
What is the condition in the weighted mean equation?
Answer
Weights must add up to 1


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Flashcard 1641105198348

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The geometric mean is most frequently used to [...] or to compute the growth rate of a variable.
Answer
average rates of change over time


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Flashcard 1641107033356

Tags
#reading-8-statistical-concepts-and-market-returns
Question
In investments, what do we use to average a time series of rates of return on an asset or a portfolio?
Answer
we use the geometric


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Flashcard 1641108868364

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Geometric mean formula

G= [...]
Answer

G=n√X1X2X3…Xn

with Xi ≥ 0 for i=1,2,…,n


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Flashcard 1641111489804

Tags
#reading-8-statistical-concepts-and-market-returns
Question
A measure of central tendency computed by taking the nth root of the product of n non-negative values.
Answer
Geometric mean


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Flashcard 1641113324812

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Cual es la condicion de la media geometrica?
Answer
Ningun valor puede ser negativo

Xi ≥ 0 for i=1,2,…,n.


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Flashcard 1641115159820

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Se puede calcular la media geometrica si un valor es 0
Answer
si


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Flashcard 1641116994828

Tags
#reading-8-statistical-concepts-and-market-returns
Question
How do you solve the condition for geometric mean when there are negative returns?
Answer
You add 1 to every return (-100% is as low as it can get) and substract 1 at the end


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Flashcard 1641119616268

Tags
#reading-8-statistical-concepts-and-market-returns
Question
RG means [...]
Answer
Returns Geometric Mean


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Flashcard 1641121451276

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Because geometric mean returns use time series, we use a [...] in the RG
Answer
t indexing time as well


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Flashcard 1641124334860

Tags
#reading-8-statistical-concepts-and-market-returns
Question
RG = [...]
Answer
T√(1+R1)(1+R2)…(1+RT) -1


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Flashcard 1641126956300

Tags
#reading-8-statistical-concepts-and-market-returns
Question
Geometric mean returns are also referred to as [...]
Answer
compound returns.


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Flashcard 1641129577740

Tags
#reading-8-statistical-concepts-and-market-returns
Question
the geometric mean is always [...] to the arithmetic mean.
Answer
less than or equal


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Flashcard 1641131412748

Tags
#reading-8-statistical-concepts-and-market-returns
Question
The only time the two means (Geometric and Arithmetic) will be equal is when [...]
Answer
all the observations in the series are the same


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Flashcard 1641133509900

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Question
The difference between the arithmetic and geometric means increases with [...]
Answer
the variability in the period-by-period observations.


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Geometric and Arithmetic Mean Returns
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A hypothetical investment in a single stock initially costs €100. One year later, the stock is trading at €200. At the end of the second year, the stock price falls back to the original purchase price of €100. No dividends are paid during the two-year period. Calculate the arithmetic and geometric mean annual returns.

Solution:

First, we need to find the Year 1 and Year 2 annual returns with Equation 1.

Return in Year 1 = 200/100 – 1 = 100%

Return in Year 2 = 100/200 – 1 = –50%

The arithmetic mean of the annual returns is (100% − 50%)/2 = 25%.

Before we find the geometric mean, we must convert the percentage rates of return to (1 + Rt). After this adjustment, the geometric mean from Equation 6 is √2.0×0.502.0×0.50 – 1 = 0 percent.

The geometric mean return of 0 percent accurately reflects that the ending value of the investment in Year 2 equals the starting value in Year 1. The compound rate of return on the investment is 0 percent. The arithmetic mean return reflects the average of the one-year returns.

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The terminology “harmonic” in Harmonic Mean arises from its use relative to a type of series involving reciprocals known as a harmonic series.

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Flashcard 1641140325644

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Question
A type of weighted mean computed by averaging the reciprocals of the observations, then taking the reciprocal of that average.
Answer
Harmonic Mean


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Flashcard 1641142947084

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Question
The harmonic mean of n numbers xi (where i = 1, 2, ..., n) is:

XH = [...]

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Harmonic Mean The harmonic mean of n numbers x i (where i = 1, 2, ..., n) is: The special cases of n = 2 and n = 3 are given by: and so on.

Original toplevel document

Subject 4. Measures of Center Tendency
, therefore, is not recommended for use as the only measure of central tendency. A further disadvantage of the mode is that many distributions have more than one mode. These distributions are called "multimodal." <span>Harmonic Mean The harmonic mean of n numbers x i (where i = 1, 2, ..., n) is: The special cases of n = 2 and n = 3 are given by: and so on. For n = 2, the harmonic mean is related to arithmetic mean A and geometric mean G by: The mean, median, and mode are equal in symmetric distributions. The mean is higher than the median in positively skewed distributions and lower than the median in negatively skewed dist







Flashcard 1641145306380

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Question
The harmonic mean is the value obtained by summing the reciprocals of the observations— [...] —then averaging that sum by dividing it by the number of observations n, and, finally, taking the reciprocal of the average.
Answer
terms of the form 1/Xi


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Flashcard 1641147141388

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Question
The harmonic mean may be viewed as a special type of weighted mean in which an observation’s weight is [...]
Answer
inversely proportional to its magnitude.


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Flashcard 1641148976396

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Question
The periodic investment of a fixed amount of money.
Answer
Cost averaging


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The harmonic mean is a relatively specialized concept of the mean that is appropriate when averaging ratios (“amount per unit”) when the ratios are repeatedly applied to a fixed quantity to yield a variable number of units.

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Dollar-cost averaging (DCA) is an investment technique of buying a fixed dollar amount of a particular investment on a regular schedule, regardless of the share price. The investor purchases more shares when prices are low and fewer shares when prices are high. The premise is that DCA lowers the average share cost over time, increasing the opportunity to profit. The DCA technique does not guarantee that an investor won't lose money on investments. Rather, it is meant to allow investment over time instead of investment as a lump sum.

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Dollar-Cost Averaging (DCA)
What is 'Dollar-Cost Averaging - DCA' <span>Dollar-cost averaging (DCA) is an investment technique of buying a fixed dollar amount of a particular investment on a regular schedule, regardless of the share price. The investor purchases more shares when prices are low and fewer shares when prices are high. The premise is that DCA lowers the average share cost over time, increasing the opportunity to profit. The DCA technique does not guarantee that an investor won't lose money on investments. Rather, it is meant to allow investment over time instead of investment as a lump sum. BREAKING DOWN 'Dollar-Cost Averaging - DCA' Fundamental to the strategy is a commitment to investing a fixed dollar amount each month. Depending




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What are the reasons for sampling?

Sampling is used when:

1. The population is infinite.
2. There is a limited amount of time available.
3. The nature of the test is destructive.
4. The cost of gathering the data is a factor.

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When dealing with actual data, we often find that we need to approximate the value of a percentile. For example, if we are interested in the value of the 75th percentile, we may find that no observation divides the sample such that exactly 75 percent of the observations lie at or below that value. The following procedure, however, can help us determine or estimate a percentile. The procedure involves first locating the position of the percentile within the set of observations and then determining (or estimating) the value associated with that position.

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