Exercise Solution 8.1

Exercise Solution 8.1

The quantity τ(10) is the number of basis days in the next 10 trading days. Counting forward from November 14, we find that November 29 is 10 trading days subsequent to November 14. We are treating basis days as actual days. There are 15 actual days between November 14 and November 29, so τ(10) = 15.

 
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