Principles of Finance · 免费预览
集中趋势与离散程度的度量
均值和中位数概括金融数据所处的位置，方差和标准差概括它们离散的程度；二者合在一起，给出了每个收益率序列都需要的两个数字：平均值和风险。
1. The mean, everyone's first summary
The mean, everyone's first summary
2. The median, the robust alternative
The median, the robust alternative
3. Variance and standard deviation
Variance and standard deviation
4. Reading the pair together
Reading the pair together
5. Computing the mean
A fund earns annual returns of 10, 4, 18, minus 6, and 9 percent over five years. What is the arithmetic mean return?
6. The median's robustness
In the same five-year series, what is the median return, and why does it differ from the mean?
7. Interpreting the mean-median gap
A return series shows a mean of 12 percent and a median of 6 percent. What does the gap suggest?
8. Variance's squaring
Why does the variance formula square the deviations from the mean rather than averaging them directly?
9. The standard deviation of the series
For the returns 10, 4, 18, minus 6, and 9 percent, with mean 7 percent, what is the sample standard deviation?
10. Mean and spread as reward and risk
Why do the mean and standard deviation together form the standard two-number summary of an investment's return history?
11. The middle value's name
What one-word term names the middle observation of an ordered data set? Answer in lowercase.
12. The spread's square root
What two-word term names the square root of the variance, the spread measure in the data's original units? Answer in lowercase.
13. The sample divisor
In the sample variance formula, the sum of squared deviations is divided by n minus what number? Write the number.
14. Finance's risk definition
What two-word term does modern finance use as its quantitative definition of risk for a return series? Answer in lowercase.