[Solved] The discounted returns on a portfolio are

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The discounted returns on a portfolio are normally distributed with mean 1.2% and volatility 13%. Find the 1% 10-day expected shortfall (ES) assuming the returns

The discounted returns on a portfolio are normally distributed with mean 1.2% and volatility 13%. Find the 1% 10-day expected shortfall (ES) assuming the returns are i.i.d. You are given that (1(0.01))=0.02265.

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