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Explain what is a system of multivatiable random variables. When can we determine joint distributions? Explain how joint distributions are used in pricing of exotic

Explain what is a system of multivatiable random variables. When can we determine joint distributions?

Explain how joint distributions are used in pricing of exotic options in, forward start, call on call, and and chooser.

Explain what goes wrong if assumptions of complete markets and log normal distributions do not hold.

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