Question: Example 0.2.1. The difference between u and u is closely related to an issue in the reporting of mutual fund returns. Suppose that the following

Example 0.2.1. The difference between u and u is closely related to an issue in the reporting of mutual fund returns. Suppose that the following is a sequence of returns per annum reported by a mutual fund manager over the last five years (measured using annual compounding): 15%, 20%, 30%, -20%, 25%. What average return should the fund manager report
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