Question: (a) What does value at risk attempt to measure? (b) What does a daily VaR of $5,000,000 at a 99% confidence level mean? (c) What

(a) What does value at risk attempt to measure?
(b) What does a daily VaR of $5,000,000 at a 99% confidence level mean?
(c) What data is required to estimate VaR? How is the amount of data required
mimimized?
(d) What are some of the limitations in the use of VaR?

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