Question: The probability density function for daily profits at M Inc. can be described by the following piecewise function: We are instructed to find the day

The probability density function for daily profits at M Inc. can be described by the following piecewise function:

The probability density function for daily profits at M Inc. can be

We are instructed to find the day 99% Value at Risk (VaR) for M Inc. as well as the 99% expected shortfall (ES) for M Inc. An example of how to calculate ES for a similar example with a 95% VaR as a loss of 9 is shown below:

described by the following piecewise function: We are instructed to find the

p = 8 100 for -10

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