2. Refer to the Simulation worksheet. (below the questions) This worksheet contains the historical monthly returns of our portfolio (Portfolio).

Let the initial value of our Portfolio be $202,018.36

(a) Use the Bootstrap method to simulate 1000 values of the Portfolio af- ter 12 months. You must provide formulas in the cells of the array J9:U1008. Otherwise, you will receive no credit for this part.

Based on your simulated Portfolio values (after 12 months),

(b) Write a formula in cell O2 that computes the proportion of those values that are above 250,000. Interpret this number.

Overall, (c) Provide one limitation of your Bootstrap simulation.

					Prop. (Ending value > 250,000)
												Starting Portfolio value			202,018.36
Month	Portfolio return	Simulation round	1	2	3	4	5	6	7	8	9	10	11	12
31/10/2017	-0.30%	1
30/11/2017	4.03%	2
31/12/2017	5.79%	3
31/01/2018	5.91%	4
28/02/2018	-3.42%	5
31/03/2018	6.79%	6
30/04/2018	5.66%	7
31/05/2018	-2.92%	8
30/06/2018	5.87%	9
31/07/2018	2.14%	10
31/08/2018	1.67%	11
30/09/2018	-2.70%	12
31/10/2018	-2.80%	13
30/11/2018	0.70%	14
31/12/2018	3.91%	15
31/01/2019	4.93%	16
28/02/2019	-0.21%	17
31/03/2019	2.31%	18
30/04/2019	0.08%	19
31/05/2019	2.40%	20
30/06/2019	4.53%	21
31/07/2019	-0.18%	22
31/08/2019	7.52%	23
30/09/2019	-2.08%	24
31/10/2019	2.39%	25
30/11/2019	1.90%	26
31/12/2019	4.75%	27
31/01/2020	6.15%	28
29/02/2020	-0.84%	29
31/03/2020	-6.43%	30
30/04/2020	-0.26%	31
31/05/2020	6.44%	32
30/06/2020	6.12%	33
31/07/2020	8.90%	34
31/08/2020	4.66%	35
30/09/2020	4.60%	36
31/10/2020	-1.84%	37
30/11/2020	3.43%	38
31/12/2020	6.80%	39
31/01/2021	3.29%	40
28/02/2021	5.63%	41
31/03/2021	4.60%	42
30/04/2021	3.39%	43
31/05/2021	4.02%	44
30/06/2021	8.80%	45
31/07/2021	2.51%	46
31/08/2021	0.06%	47
30/09/2021	2.65%	48
31/10/2021	3.23%	49
30/11/2021	5.22%	50