Chapter 12 Time Series Analysis 12.1 Stochastic processes A stochastic process is a family of random variables {Xt,t ET}. Example{St,t 0, 1,2,...} where St i=o X; and iid(0,2). St has a different distribution at each point t
IIts lmportance The f&B can account for 2/5 or more of a hotel's profit The f&b is such an indisputable part of a lotel that in China a hotel is called grand restaurant
1. Unit 1 Language in mission Text A An impressive English lesson 2. Unit 2 College — The ladder to success? Text A The humanities: Out of date? 3. Unit 3 Discovery of a new life stage? Text A Journey through the odyssey years 4. Unit 4 Dance with love Text A College sweethearts 5. Unit 5 The money game Text A Spend or save–The student’s dilemma 6. Unit 6 Less is more Text A Door closer, are you? 7. Unit 7 Women: Making a difference Text A Women at the management level
Derivatives Dependent on a single Underlying Variable Consider a variable, 0, (not necessarily the price of a traded security) that follows the process d e S Imagine two derivative s dependent on e with prices f, and f2. Suppose
