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Given ten historical returns: [-15%, -13%, -10%, -5%, -3%, 1%, 4%, 7%, 11%, 20%], what is the 20% value at risk (VaR) under the empirical
Given ten historical returns: [-15%, -13%, -10%, -5%, -3%, 1%, 4%, 7%, 11%, 20%], what is the 20% value at risk (VaR) under the empirical distribution?
Select one:
a. -15%
b. -14%
c. -13%
d. -10%
e. 11%
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