(1)(a)Bendix co., based in New Jersey, will receive ten million euros tomorrow for its consultancy services to a firm in Germany. It wants to determine, with 99% confidence, the maximum one-day loss due to potential depreciation of the euro. Bendix estimates the standard deviation of the daily movement of the euro to be 1.5% over the past 120 days. If these daily movements are normally distributed and assuming an expected change of 1% in the spot rate, determine the expected dollar loss for the Bendix co. [The current spot rate for the euro is $1.05 ] (b) How will your result in (a) be affected if the standard deviation of the daily movement in the euro is 2% and the confidence level is reduced to 95%