ACTL1101 Lecture Notes - Lecture 7: Gzip

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bluebee342

22 Oct 2018

School

UNSW, UNSW Sydney

Department

Actuarial Studies

Course

ACTL1101

Professor

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# import dataset hist(claim_motorctp, main = "distribution of gross loss of each motor claim", # set title xlab = "grosslossmotor", # set x axes col = "black" # set colour) # plot the distribution of grosslossmotor using a histogram. # if there is a ctp claim, create a variable as 1; if no, then 0 group_by(accidentday) %>% # group by accidentday summarise(noctpclaim = sum(ctpclaim)) %>% # count the numbers of claims on each day as. data. frame() attach(ctpclaim) Content type "application/x-gzip" length 5686536 bytes (5. 4 mb) The following objects are masked from (cid:528)package:stats(cid:529): filter, lag. The following objects are masked from (cid:528)package:base(cid:529): intersect, setdiff, setequal, union. + main = "distribution of gross loss of each motor claim", > # plot the distribution of grosslossmotor using a histogram. > ctpclaim % mutate(ctpclaim = ifelse(grosslossctp. + # if there is a ctp claim, create a variable as 1; if no, then 0. + # count the numbers of claims on each day.

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Permutations and Combinations

ey table is seen below xeecions tor Chapter 1 12, Fori, b â¬ Î.el * b-aa (0 (D 14 ForVEQ r the operation defined in Example 1 on the wr John Sue Henry. P iDFor 15ine if is ass ociative by determining if the final six engu defined ang property (ii)of Theorem 1 . So no element i if the operntion debined in Example 1 of Emle if each element has an inverse Section 1.3 Groups iw comutatityn ild Chapter 3 where the Funda the exercises that follow etermining why they are not Write out the Cayley table for the gru(o)nud lensify thee element the 10 elements of the group Z 18 its operation uses ts in the first coordinnte and +2 in the secotu Ldessity the Zn and write out the Cayley table. Reeall th of each element does Theorem 1.14 tell us aont the entries in the Cayley table ol s xrewp that is set with exactly one element. A {n), will always form group since there 19. What nly one way to define an operation on the set. Be sure to shhow that the properi combination of the usual notice what set the rule is be of a group all hold. 21. We can create even create groupe with games! Consider four cups placed in a ssare patter table. If we have a penny in one of the cups there are four ways we can move it to t cup: Horizontally, Vertically, Diagonally, or Stay nehere it is. We will p, S. To define nn operation, consider two movements in a row, v.e.,m ove the penny as r tells us to, then after that move the penny as y instruets. the set of integers the set of real numbers n the set of positive integers. e set of positive integers. n the set of positive integers. on the set of integers e set of negative integers. we ple, HV D since if we first move it horizontally and then vertically nltogether e moved it diagonally. Create the Cayley table for this group, identify the identity and the inverse of cach element 22. Prove that the set A 0 under matrix multiplication. Is it abelian? 23. Verify that 3(R) is a group using the addition of funetions as defined in Example 13 e set of nonzero rational n he set of nonzero real num n on the set R (-1 Section 1.4 Basic Algebra in Groups 24. Prove the Cancellation Law (Theorem 1.20). Do not use any theorems that occur after it in the text ssociative, commutative, has roof or counterexample fo 25. Assume G is a group and a e G. Consider a fixed integer k and use PMI (Theorem 0.3) to prove that for all nEN, a aYou will need to consider cases here since k can be positive, negative, or o 26. Prove Theorem 1.23 (ii) for the case of n > 0 and m

CAN SOMEONE PLEASE HELP>... I NEED ONLY the last two questions answered and I had posted thise twice! I NEED HELP>>>>>>>>>>>>>>>>>>>> PLEASE EXPLAIN THE PROCESS OF THE ANSWER...

Nike is the company chosen!

What is the companyâs ticker symbol? Ticker = X

Find the amount of long-term debt (D): Publicly traded companies are required to produce annual accounting reports (10K) for the SEC detailing the financial operations of the past year. On the balance sheet, each company is required to list the value of long-term debt. (Note: Most of the tables in this report are created by accountants. Hence, this report provides book values. But, the book value of debt and the market value of debt are roughly equal.) These can be found on the SEC EDGAR webpage www.sec.gov/edgar.shtml. EDGAR stands for Electronic Data-Gathering, Analysis, and Retrieval system. Click âSearch for Company Filingsâ then âSearch by Company Name.â

Debt = X

Find the amount of equity (E):

What is the book value of equity? This can be found in the annual 10K report.

Book Value of Equity = X

What is the market value of equity? Several web pages list stock market information. All of this information can also be found on Bloomberg and Telemet using the terminals in the trading room. To find the information you need to find the amount of equity look in the Equity Research Category in the Key Stats and Company Financials Page. NOTE: Book equity and market equity are different!

Market Value of Equity = X

Use the answers to questions 2 and 3 to determine the market capital structure weights.

Weight of Debt = X

Weight of Equity = X

Estimate the cost of debt (r_D): You can find bond information for current bonds outstanding at the bond web page finra.org.

How many different bonds does the company currently have outstanding?

Number of bonds = X

What is the length of each bond?

Do the bonds have any special features (puts, calls, sinking funds, etc)?

What is the cost of debt of the most recently issued bond?

What do you think that the cost of debt will be if the company issues a new bond?

Estimate the cost of equity (r_E) two different ways:Dividend Growth Model

What is the current annual dividend (D₀)? On the Yahoo finance page follow the link for âHistorical Pricesâ and then âDividends Only.â This table can be exported into Excel to help you do calculations by clicking on âDownload to Spreadsheet.â

Embed Excel Spreadsheet showing dividends for the last few years.

Current annual dividend = X

Determine the annual dividend for the past several years. Is there an approximate pattern to the dividends? Are the dividends constant, growing, or uneven?

If the dividends grow over time, find dividend growth (g).

g = X

Find the current stock price (P₀).

Using the information above calculate the cost of equity using the constant dividend model or the dividend growth model or state that neither one can be used.

Cost of Equity = X

Capital Asset Pricing Model

Several sources list Î² including Telemet and Bloomberg. Find Î² from 3 different sources. State which source you used. Why are the betas different from different sources?

Source 1 = X, Î² = X

Source 2 = X, Î² = X

Source 3 = X, Î² = X

Reason why betas are different.

Estimate Î² yourself.

Download the historical stock price of your company and use them to calculate returns.

Embed an Excel Spreadsheet showing the stock price and returns with only few lines showing.

Download the historical price of the S&P 500 index to use as an approximation of market performance. Use the prices to find returns.

Embed an Excel Spreadsheet showing the stock price and returns with only few lines showing.

Run a regression in which returns of the company are the dependent variable and S&P 500 index returns are the independent variable. Note: Your estimate of Î² should be very similar to the Î²s that you provided above. If it is very different, you are doing something wrong.

Show regression results.

Î² = X

Find R_f. What is the risk-free rate based on?

State the source of R_f

You can assume that Market Risk Premium is 6.1%. Using the information above, calculate the cost of equity using the CAPM.

Cost of Equity =

Based on your different estimates, what do you think that the cost of equity is?

Cost of Equity =

What is your companyâs WACC?

Show the formula and numbers that you used to solve WACC.

WACC = X

.................................................................................................................................................................................................................................................................

The company is considering a new project. At the end of the first year of the project they could earn net operating cash flow of $1 million, $2 million the following year and, $3 million in the last year. If the project requires an initial investment (upfront cost) of $5 million, would you advise them to accept the project? Why?

Show your work.

The company is considering a different project which could earn net operating cash flows of $500,000 per year for the next 10 years. The project costs $4 million. Would you advise them to accept the project? Why?

Show your work.

ACTL1101 Lecture Notes - Lecture 7: Gzip

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