Which of the following statement(s) on the EWMA model and the GARCH(1,1) model are correct?

(i) The EWMA approach has the attractive feature that data storage requirements are modest. At any given time, we need to remember only the current estimate of the variance rate and the most recent observation on the value of the market variable.

(ii) A low value of (i.e., a value close to zero) produces estimates of the daily volatility that respond relatively quickly to new information provided by the daily percentage change.

(iii) In the GARCH(1, 1) model, the estimate of the volatility for day n (made at the end of day n-1) is calculated from a long-run average variance rate, as well as from the current estimate of the variance rate and the most recent observation on the value of the market variable.