Hi, Would like to ask how is the return calculated for 2(iii)(a) period 4, where one player valued at 4 was removed and one valued at 6 was added. Thank you so much in advance.
The examiners result is obtained by taking the index prior to the change of player (106), making a change to reflect the substitution (106 -4 +6 = 108), then calculating the return as 112/108 ie 3.7037%. Hope this helps.
