# on 22-Jul-2017 (Sat)

#### 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 [...]
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.
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)

cannot see any pdfs

#### Flashcard 1603057093900

Tags
Question
Marketable securities. Valued at [...]
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

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.

Range/k.

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#### Annotation 1640926678284

 #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

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

#### Annotation 1640931396876

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

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

#### Annotation 1640933231884

 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

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?
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

#### Annotation 1640944241932

 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 crimesStringent punishmentsMandatory reportingChild-friendly proceduresUnder Section 45 of the Act, the power to make rules rests with the Central GovernmentQualifications and experience of interpretersArrangements for care and protectionCriteria for award of compensation by the Special CourtThe rules rely on the structures established under the Juvenile Justice Act, 2000.

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?
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

#### Annotation 1640949484812

 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

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

#### Annotation 1640951581964

 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.

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,

#### Annotation 1640953679116

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

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

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

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#### Parent (intermediate) annotation

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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?

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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#### Parent (intermediate) annotation

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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,

#### Annotation 1640967834892

 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

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

#### Annotation 1640970718476

 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.

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

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

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.

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?
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

#### Annotation 1640981728524

 World Customs Organization The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, BelgiumIt 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 modernizationThe 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

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

#### Annotation 1640983301388

 #fta #un #wto 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 2013The 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 marketsAbolish 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 limitsReduction in red tape at international borders: It aims to reduce red-tapism to facilitate trade by reforming customs bureaucracies and formalities

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]

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?
No, you need to know every cashflow

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#### Annotation 1641020263692

 Frequency distribution steps #reading-8-statistical-concepts-and-market-returns 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 interval) Table (make a table of intervals from small to large that shows the number of observations in each one)

#### Flashcard 1641023147276

Tags
Question
Cual es el acrónimo para la construccion de una frequecy table?
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
Question

Construction of a Frequency Distribution.

1. S [...]

2. C [...]

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
Question

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

(second step in frequency distribution)

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
Question

Construction of a frequency distribution

3.- I [...]

4.-W [...]

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
Question

Construction of a frequency distribution

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

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

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
Question

Construction of a Frequency Distribution.

5.-A [...]

6.-C [...]

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

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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>

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#statistical-concepts-and-market-returns
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The letter k represents [...]

an interval

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#### Annotation 1641043332364

 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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To choose the width of the intervals, how should we start?
Starting small and going up

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Starting from small K to larger, what give you the cue there are too many?
if a lot of the intervals are mostly empty

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When choosing k we need to keep in mind that the purpose of a frequency distribution is to [...]
summarize the data.

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The arithmetic mean can be likened to [...]
the center of gravity of an object.

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How is the distance between the mean and each outcome called ?
deviation.

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Mathematically, it is always true that the sum of the deviations around the mean equals [...]
0

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Deviations from the arithmetic mean are important information because they indicate [...]
risk.

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The concept of [...] forms the foundation for the more complex concepts of variance, skewness, and kurtosis
deviations around the mean

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A property and potential drawback of the arithmetic mean is its [...]
sensitivity to extreme values

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The [...] is the value of the middle item of a set of items that has been sorted into ascending or descending order.

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In an odd-numbered sample of n items, the median occupies the [...] position.
(n + 1)/2

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In an even-numbered sample, we define the median as the mean of the values of items occupying the [...] and [...] positions
n/2

(n + 2)/2

(the two middle items)

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#### Annotation 1641067973900

 #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.

#### Annotation 1641069808908

 #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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What does it mean that the median is less mathematically tractable than the mean.
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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Stock return data and other data from [...] distributions may not have a modal outcome
continuous

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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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The modal interval always has the [...] in the histogram.
highest bar

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The [...] is the only measure of central tendency that can be used with nominal data
mode

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In the arithmetic mean, all observations are equally weighted by the factor [...]
1/n (or 1/N)

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An average in which each observation is weighted by an index of its relative importance.
Weighted mean

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The weighted mean ¯¯¯Xw , for a set of observations X1, X2, …, Xn with corresponding weights of w1, w2, …, wn is computed as:

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

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What does it mean that the median is less mathematically tractable than the mean.
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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#### Annotation 1641088421132

 #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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In the context of portfolios, a positive weight represents an [...] and a negative weight represents an [...]
asset held long

asset held short.

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#### Annotation 1641092353292

 #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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Market indexes are computed as [...]
weighted averages.

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When we take a weighted average of forward-looking data, the weighted mean is called [...]

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The probability-weighted average of the possible outcomes of a random variable.

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#### Annotation 1641101528332

 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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What is the condition in the weighted mean equation?
Weights must add up to 1

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The geometric mean is most frequently used to [...] or to compute the growth rate of a variable.
average rates of change over time

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In investments, what do we use to average a time series of rates of return on an asset or a portfolio?
we use the geometric

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Geometric mean formula

G= [...]

G=n√X1X2X3…Xn

with Xi ≥ 0 for i=1,2,…,n

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A measure of central tendency computed by taking the nth root of the product of n non-negative values.
Geometric mean

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Cual es la condicion de la media geometrica?
Ningun valor puede ser negativo

Xi ≥ 0 for i=1,2,…,n.

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Se puede calcular la media geometrica si un valor es 0
si

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

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RG means [...]
Returns Geometric Mean

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Because geometric mean returns use time series, we use a [...] in the RG
t indexing time as well

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RG = [...]
T√(1+R1)(1+R2)…(1+RT) -1

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Geometric mean returns are also referred to as [...]
compound returns.

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the geometric mean is always [...] to the arithmetic mean.
less than or equal

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The only time the two means (Geometric and Arithmetic) will be equal is when [...]
all the observations in the series are the same

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

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#### Annotation 1641135869196

Geometric and Arithmetic Mean Returns

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.

#### Annotation 1641137704204

 #reading-8-statistical-concepts-and-market-returns 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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A type of weighted mean computed by averaging the reciprocals of the observations, then taking the reciprocal of that average.
Harmonic Mean

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#has-images #quantitative-methods-basic-concepts #statistics
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The harmonic mean of n numbers xi (where i = 1, 2, ..., n) is:

XH = [...]

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#### Parent (intermediate) annotation

Open it
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

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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.
terms of the form 1/Xi

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

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

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#### Annotation 1641150811404

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

#### Annotation 1641155005708

 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.

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

#### Annotation 1641169423628

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