The air-gap technique is used to reduce _________ radiation by intentionally increasing the _________.
Which of the following is the fourth statistical moment of t…
Which of the following is the fourth statistical moment of the distribution and measures how much of the distribution is present in its tails?
Also referred to as funnel chest, this deformity is characte…
Also referred to as funnel chest, this deformity is characterized by a depressed sternum.
Also referred to as funnel chest, this deformity is characte…
Also referred to as funnel chest, this deformity is characterized by a depressed sternum.
Harold and Kumar are employees with White Castle Advisors. W…
Harold and Kumar are employees with White Castle Advisors. White Castle offers independent investment advice to institutional clients throughout the U.S and Canada. Harold’s and Kumar’s primary responsibility is evaluating the performance of portfolio managers that White Castle’s clients are considering. When necessary, they create customized benchmarks and use the Sharpe, Treynor, ex-post alpha, and M2 measures. These measures adjust a manager’s return for the risk undertaken, where risk is defined as total using the standard deviation or as systematic using beta. Harold and Kumar are preparing an analysis of the performance of the Alpha and Omega Mutual funds. Alpha and Omega are being considered by the endowment of Citi University as an addition to its portfolio. Chuck Prince is the portfolio manager for the Citi endowment. Citi’s current endowment is well diversified, consisting of U.S. and international stocks and bonds, hedge funds, real estate investment trusts, and a small cash position necessary to meet next Quarter’s expenses. In addition to the Alpha and Omega Mutual funds under consideration, Prince is also considering adding individual bonds to Citi’s portfolio because individual bonds have become increasingly more liquid. Harold believes that municipal bonds would be a good consideration because their after-tax return is often higher than that available from corporate bonds. Prince informs them that Citi is also considering adding BBB rated bonds as a small portion of their portfolio, but Kumar believes that this is probably not a good idea because, although he has not reviewed Citi’s investment policy statement, endowments typically have a low ability and willingness to take risk because the endowment must meet the spending needs created by university operating budgets, student scholarships, and faculty salaries. The most recent risk and return measures for both Alpha and Omega are shown below. The minimum acceptable return (MAR) for Citi is the 5.0% spending rate on the endowment, which the endowment has determined using a geometric spending rule. The T-bill return over the same fiscal year was 4.5%. The return on the Wilshire-5000 was used as the market index. The Wilshire 5000 index had a return of 10% with a standard deviation of 21% and a beta of 1.0. Analyzing the results of their performance evaluation, Harold notices that the results demonstrate that the Alpha portfolio is less diversified than the Omega portfolio. Kumar adds that the Omega portfolio would be a better addition to the Citi portfolio than the Alpha fund. Alpha Omega Return 16.5% 15.9% Std. Deviation 38.1% 35.6% Beta 0.8 1.25 Downside Deviation 14.9% 14.0%Which of the two funds is showing a better performance using M-squared measure?
When a breathing technique cannot be used, what phase of res…
When a breathing technique cannot be used, what phase of respiration is used for the RAO sternum?
Consider a portfolio with expected return of 15% and varianc…
Consider a portfolio with expected return of 15% and variance of 10%. The T-bills return 3%? Would you add a new asset class to the portfolio if the class has a predicted Sharpe ratio of 0.30 and a predicted correlation with existing portfolio of 0.7?
At the beginning of the fiscal year, Tel-Pal, Inc., stock se…
At the beginning of the fiscal year, Tel-Pal, Inc., stock sells for $75 per share. There are 2,000,000 shares outstanding. An analyst predicts that the annual dividend to be paid in one year will be $3 per share. The expected inflation rate is 3.5%. The firm plans to issue 40,000 new shares over the year. The price-to-earnings ratio is expected to stay the same, and nominal earnings will increase by 6.8%. Based upon these figures, what is the expected return on a share of Tel-Pal, Inc., stock in the next year?
How much rotation is required to best demonstrate the sterno…
How much rotation is required to best demonstrate the sternoclavicular joints in an oblique position?
Consider an US-based foundation with spending rate of 3 perc…
Consider an US-based foundation with spending rate of 3 percent and cost of earning investment returns has averaged 50 basis points annually. The asset allocation and the set of capital market expectations are shown below. The expected long-term inflation rate is 2.5 percent. Table 3 Capital Market Expectations Asset class E(ri) si Correlations A B C D A US equities 9% 18% 1 B Ex-US equities 8 14 0.60 1 C US bonds 4 8 0.30 0.20 1 D Real estate 1 7 0.50 0.40 0.10 1 Table 4 Corner portfolios Portfolio E(rp) sp Sp wi A B C D 1 9.0% 18.0% 0.39 100% 0% 0% 0% 2 7.9 16.7 0.35 65 35 0 0 3 7.5 15.4 0.38 37 53 0 10 4 5.0 12.4 0.36 0 25 43 32 5 4.6 10.1 0.32 0 11 55 34 What is the foundation return requirement in percent?