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Business
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| Number of pages / Number of words: |
13 / 3549 |
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Notice
Lecture Notes ? MAP 5601 map5601LecNotes.tex 1 8/27/2003
that a refinement contains at least as much information as the original partition.
In the language of probability theory, a function on the sample space
is called a
random variable. This is because the value of such a function depends on the random
occurrence of a point of
...
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This is because the value of such a function depends on the random
occurrence of a point of
. However, without this interpretation, a random variable is just
a function.
Given a finite probability space (
, P) and the real-valued random variable X :
! IR
we define the expected value of X or expectation of X to be the weighted probability of
its values...
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"Financial integration without a proper set of preconditions might lead to few growth benefits and more output and consumption volatility." (Prasad, Rogoff, Wei, and Kose, 2003) Discuss.
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