Question: Suppose the sample for a return on a portfolio is comprised of 82 annual returns. The bottom five returns are -20%, -25%, -30%, -35% and

Suppose the sample for a return on a portfolio is comprised of 82 annual returns. The bottom five returns are -20%, -25%, -30%, -35% and -40%. What is the 5% VaR? What is the 5% expected shortfall?

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