Hi all, I'm confused by part vi) Why is the p value not 0.293?. Shouldn't 0 potential loss occur when F(0)=p? Thanks in advance for your help!
Hi Laura You're absolutely right. There's been a long history of ambiguity in Value at Risk exam questions around whether "p" or "1-p" should be used. I'm sorry that the ActEd material has perpetuated this problem. I've now corrected the spreadsheet. Thanks for pointing this out, and apologies for the inconvenience caused.
