FIND THE MEDIAN FROM THE FOLLOWING VALUES:- 3,4,5,8,6,8,4,10,8

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Mr. Gorfin is a movie buff who watches movies regularly. His son has observed that whether Mr. Gorfin watches a drama or not depends on the previous two movies he has watched with the following probabilities: 7/8 if the last two movies he watched were both dramas, 1/2 if exactly one of them was a drama, and 1/8 if none of them was a drama.

(a) Mr. Gorfin watched four movies last weekend. If the first two were dramas, what is the probability that the fourth one was a drama as well?

(b) What is the long-run probability that Mr. Gorfin will watch two dramas in a row?

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GROUP ASSIGNMENT
Interest Theory and what of the role of regulators (politicians)? What are the motivations of politicians as regulators?
You should then respond to the article by arguing a position. Do you agree or disagree, explaining why. You should give consideration to events in recent years that may have had an influence.
Websites that may assist:
??AASB (website of Australian Accounting Standards Board)
??IASB (website of International Accounting Standards Board)
??FASB (website of US-based Financial Accounting Standards Board
??ICAA (Institute of Chartered Accountants in Australia)
??CPAA (Certified Practising Accountants Australia)
• It is also recommended that you utilise Proquest and Google Scholar as well as Financial review, the Age and BRW (Business Review Weekly)
• Marks will be given on the soundness of your argument, research conducted, quality of report (presentation, referencing) and the understanding of the issues. Each report will be assessed as a group so ensure that, as a group you are satisfied with the contribution of each member.
Report structure: should consist of summary (overview), introduction, points of discussion and conclusion. Ensure that all references are clearly identified in accordance with Harvard or APA (refer to your student handbook if unsure)

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Part 1: Hedge Funds (40 points) The main objective is to get you familiarized with the hedge fund industry: the overall performance of the industry, as well as the various styles of hedge funds. The main model I have in mind the one-factor CAPM model with the equity market index as the benchmark. For some hedge fund styles (e.g., Fixed Income Arb), this is not at all the right model. But since we have just covered the CAPM in class, let focus on it. In any case, the aggregate US stock market remains to be a very important risk factor. You might be surprised as to its pervasiveness. 1 Project #1 Econ 25000 – Fall 2018 The following are some suggested questions that are relevant in our understanding of this industry. You can start your investigation using the overall Hedge Fund Index. Once youve finished the analyses on this index, you might consider expand on other hedge fund styles (e.g., Long/Short Equity, Macro, Fixed Income Arb, etc) to enrich and enhance your analyses. 1. CAPM Report its CAPM beta, alpha, and R-squared. Comment on those numbers. Compared with the mutual fund industry, how is the hedge fund industry different? 2. Four-Factor Model Repeat the same thing under a four-factor model. Any new insights? 3. Return Smoothing Suppose you worry that some hedge funds might be return smoothing, how do you detect this if you have fund level return data? Using the aggregate index level, can you still find some evidence in support of return smoothing? Report your findings. What could be some alternative explanations for this empirical evidence? 4. Beta Adjustment Given this empirical evidence , how can you adjust the CAPM beta (market exposure) of hedge funds? Report the new betas. Do hedge funds look more or less attractive after this adjustment? 5. Index vs. Individual Under what condition will you find positive auto-correlation at the aggregate level but none at the individual level? Conversely, under what condition will you find positive auto-correlation at the individual level but none at the aggregate level? 6. Time-Varying Beta The market exposure for hedge funds might be time varying. For example, hedge funds might have high market exposure during down markets and low exposure during up markets. How do test this using the data given in this assignment? Report your findings. What does this mean in terms of the attractiveness of hedge funds? Part 2: Mutual Funds (20 points) There are four unidentified mutual funds listed in HW1 Unknown.csv. Please play detective and figure out what kind of mutual funds they are. For example, is it an equity mutual fund? If so, what kind of style does this mutual follow? Please provide evidence and reasoning to support your findings. Figuring out the fund names is not a high priority, although most of the funds in the data are quite well known and are from large fund families. Part 3: International Momentum (40 points) The main objective is to investigate whether or not there are momentum profits in the equity markets across the 23 developed countries. Lets use the following strategy to form our momentum portfolio: 1. In month t, sort the indices according to the 11-month cumulative return from month t – 12 to month t – 2 (month t – 1 is skipped). 2. Pick the 6 best and 6 worst performing countries according to the sort. 3. Form a long/short portfolio: long the 6 best performers and short the 6 worst performers. Equal weight the portfolios in both cases. 4. Hold this long/short portfolio for one month. Then in month t+1, resort and rebalance using the same momentum strategy 2 Project #1 Econ 25000 – Fall 2018 How does this strategy perform? Can the four-factor model explain the international momentum profit? Summarize your findings and provide your observations, comments, and additional analyses.

Attachments:

PS-1-Econ-250….pdfHW1-Hedge-Fun….xlsxHW1-Unknown.csvHW1-Factors.txtWorld-Equity-….csv

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Influence of Auditors competence on Audit quality mediated by Auditors independence

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Research Methods for Business and Management Department: Leadership and Management Module Code: MOD001105 Level: 7 Academic Year: 2017/18 Semester/Trimester/Session: TRI3 Created with an evaluation copy of Aspose.Words. To discover the full versions of our APIs please visit: https://products.aspose.com/words/ www.anglia.ac.uk Contents TOC o “1-2” h z u HYPERLINK l “_Toc501020697” 1. Key Information PAGEREF _Toc501020697 h 3 HYPERLINK l “_Toc501020698” 2. Introduction to the Module PAGEREF _Toc501020698 h 3 HYPERLINK l “_Toc501020699” 3. Learning Outcomes and Outline Delivery PAGEREF _Toc501020699 h 3 HYPERLINK l “_Toc501020700” 4. Assessment PAGEREF _Toc501020700 h 4 HYPERLINK l “_Toc501020701” 4.1. How this Module is Assessed: What You Need to Do and When PAGEREF _Toc501020701 h 4 HYPERLINK l “_Toc501020702” 4.2. Submitting Your Work PAGEREF _Toc501020702 h 7 HYPERLINK l “_Toc501020703” 4.3. Feedback PAGEREF _Toc501020703 h 8 HYPERLINK l “_Toc501020704” 5. Learning Resources PAGEREF _Toc501020704 h 9 HYPERLINK l “_Toc501020705” 5.1. Library PAGEREF _Toc501020705 h 9 HYPERLINK l “_Toc501020706” 5.2. Other Resources PAGEREF _Toc501020706 h 9 HYPERLINK l “_Toc501020707” 6. How is Your Work Marked? PAGEREF _Toc501020707 h 10 HYPERLINK l “_Toc501020708” 7. Assessment Criteria and Marking Standards PAGEREF _Toc501020708 h 10 HYPERLINK l “_Toc501020709” 8. Attendance PAGEREF _Toc501020709 h 11 HYPERLINK l “_Toc501020710” 9. Assessment Offences PAGEREF _Toc501020710 h 11 HYPERLINK l “_Toc501020711” 10. Module Evaluation PAGEREF _Toc501020711 h 11 HYPERLINK l “_Toc501020712” 11. Report on Last Delivery of Module PAGEREF _Toc501020712 h 11 1. Key Information Module title: Research Methods for Business and Management Module Leader: Dr Andrew Armitage …

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MOD001105-RES….docx

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