Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
Can anyone give me some tips about this problem?
(0.01)
where, ri is the average return of security i over the T periods and bi of security i over the T periods. The numbers in brackets correspond to the p-value of the estimated coefficients. By explaining analytically the BSJ model, justify which investor has outperformed the market portfolio and why? Is this an active or a passive investor and why?