Question: answer asap Question 10 5 points Save Answe Cerra Co. expects to receive 11 million euros tomorrow as a result of selling goods to the

answer asap Question 10 5 points Save Answe Cerra Co. expects

answer asap

Question 10 5 points Save Answe Cerra Co. expects to receive 11 million euros tomorrow as a result of selling goods to the Netherlands. Cerra estimates the standard deviation of daily percentage changes of the euro to be 0.1 percent over the last 162 days. Assume that these percentage changes are normally distributed. The expected percentage change of the euro tomorrow is 0.03%. Use the value-at-risk (VAR) method based on a 95% confidence level for the following question(s). What is the maximum one-day loss in percentage? (Keep your answer in 2 decimal points.)

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