老师 15题不考虑期权费吗

请问老师： 1. 这两道题在计算存货周转天数和存货周转率的时候为什么不用期初期末平均？ 2. COGS是不是上期末的数字？所以在计算应付帐款的时候要加上新增的存货？

请问老师这里的BEY和计量里的BEY不一样么？ 答案的算法应该是HPR吧？

你好，原版书后题第247页，15题，关于这里的疑问，我看了题目给的SPOT RATE，分别是三个债券的各自对应的SPOT RATE，为什么如15题，算债券X的定价，用2年期，3年期SPOT RATE，用对应Y和Z的呢，是不是题目没有给X两年期，三年期 就用另外Y，Z的SPOT RATE 呢

trend rate 是什么

老师 第33题我理解的是应该选A 还有这里的隐藏订单在题目中起什么作用？

15题C该怎么理解呢

老师，样本均值和总体均值的置信区间都是均值±k标准差/√n吗 25题，我记得老师说的/√n的是样本均值，没有说总体均值

31. Ash Lawn Partners, a fund of hedge funds, has the following fee structure: • 2/20 underlying fund fees with incentive fees calculated independently • Ash Lawn fees are calculated net of all underlying fund fees • 1% management fee (based on year-end market value) • 10% incentive fee calculated net of management fee • The fund and all underlying funds have no hurdle rate or high-water mark fee conditions In the latest year, Ash Lawn’s fund value increased from $100 million to $133 million before deduction of management and incentive fees of the fund or underlying funds. Based on the information provided, the total fee earned by all funds in the aggregate is closest to: A. $11.85 million. B. $12.75 million. C. $12.87 million. 麻烦老师讲解一下这道题，重点帮忙区分一下2/20 underlying fund fees with incentive fees calculated independently，此题用independently来计算，如果是dependently这种如何计算？

这里的Indications of Interest没有太明白，是不是就是路演？还是只是询价，并不是真的卖？