Daily arithmetic returns are normally distributed with mean 0.1 and standard deviation 0.2. Portfolio Value is $100.
a) Estimate 1-day 99% VaR	a) Estimate 5-day 95% VaR
b) Interpret the 1-day 99% VaR	b) Interpret the 5-day 95% VaR
Daily geometric returns are normally distributed with mean 0.1 and standard deviation 0.2. Portfolio Value is $100.
a) Estimate 1-day 99% VaR	a) Estimate 5-day 95% VaR
b) Interpret the 1-day 99% VaR	b) Interpret the 5-day 95% VaR
Daily geometric returns are normally distributed with mean 0.1 and standard deviation 0.2. Portfolio Value is -$100.
a) Estimate 1-day 99% VaR	a) Estimate 5-day 95% VaR
b) Interpret the 1-day 99% VaR	b) Interpret the 5-day 95% VaR
Daily arithmetic returns are distributed according to t-distribution with 5 degrees of freedom. Observed mean is 0.1 and standard deviation 0.2. Portfolio Value is $100.
a) Estimate 1-day 99% VaR	a) Estimate 5-day 95% VaR
b) Interpret the 1-day 99% VaR	b) Interpret the 5-day 95% VaR