b. Below are the real data of the NASDAQ and the Bitcoin over a 5-day period. Maria would like you to help her calculate the 4-day average Amihud illiquidity measure in billions. What conclusion you could obtain after calculating the Amihud measure? Assume volume is the dollar trading volume. Please show full workings in the space below. (9 marks) Date 16/11/2020 17/11/2020 18/11/2020 19/11/2020 20/11/2020 Open 11847.11 11913.35 11896.06 11779.04 11892.7 NASDAQ High Low 11937.72 11814.89 11950.18 11852.41 11942.49 11799.96 11912.63 11760.98 11935.47 11852.51 Adi Close 11924.13 11899.34 11801.6 11904.71 11854.97 Volume 4,138,920,000 4,122,770,000 4,699,160,000 5,322,580,000 5,319,340,000 Date 16/11/2020 17/11/2020 18/11/2020 19/11/2020 20/11/2020 Open 15955.577 16685.691 17645.191 17803.861 17817.084 Bitcoin High Low 16816.18 15880.71 17782.92 16564.54 18393.95 17352.91 18119.55 17382.55 18773.23 17765.79 Adi Close 16716.11 17645.41 17804.01 17817.09 18621.31 Volume 31,526,760,000 39,006,840,000 49,064,800,000 36,985,050,000 36,992,870,000 b. Below are the real data of the NASDAQ and the Bitcoin over a 5-day period. Maria would like you to help her calculate the 4-day average Amihud illiquidity measure in billions. What conclusion you could obtain after calculating the Amihud measure? Assume volume is the dollar trading volume. Please show full workings in the space below. (9 marks) Date 16/11/2020 17/11/2020 18/11/2020 19/11/2020 20/11/2020 Open 11847.11 11913.35 11896.06 11779.04 11892.7 NASDAQ High Low 11937.72 11814.89 11950.18 11852.41 11942.49 11799.96 11912.63 11760.98 11935.47 11852.51 Adi Close 11924.13 11899.34 11801.6 11904.71 11854.97 Volume 4,138,920,000 4,122,770,000 4,699,160,000 5,322,580,000 5,319,340,000 Date 16/11/2020 17/11/2020 18/11/2020 19/11/2020 20/11/2020 Open 15955.577 16685.691 17645.191 17803.861 17817.084 Bitcoin High Low 16816.18 15880.71 17782.92 16564.54 18393.95 17352.91 18119.55 17382.55 18773.23 17765.79 Adi Close 16716.11 17645.41 17804.01 17817.09 18621.31 Volume 31,526,760,000 39,006,840,000 49,064,800,000 36,985,050,000 36,992,870,000