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Copulae In Mathematical And Quantitative Finance

  236 Downloads   |   3 Pages 502 Words   |   Published Date: 18/11/2016

Question:

Describe about the Copulae in Mathematical and Quantitative Finance?

 

Answer:

Calculation:

YEARS

2011

2012

2013

2014

2015

5 YEARS AVERAGE

2016 - FORECAST (HIGH)

2016 - FORECAST (LOW)

 

£m

£m

£m

£m

£m

£m

£m

£m

REVENUE

 

 

 

 

 

 

 

 

UK

40,766

42803

43582

43570

43573

42,859

47930.3

42265.81

EUROPE

9192

9866

9319

9267

8515

9,232

9366.5

8259.55

ASIA

9802

10828

10045

10309

9884

10,174

10872.4

9587.48

US

495

0

0

0

0

99

0

0

TESCO BANK

919

1044

1021

1003

1024

1,002

1126.4

993.28

GROUP REVENUE

61,174

64541

63967

64149

62996

63,365

69295.6

61106.12

TRADING PROFIT

 

 

 

 

 

 

 

 

UK

2504

2478

2272

2191

467

1,982

 

 

EUROPE

527

529

329

238

164

357

 

 

ASIA

605

737

733

692

565

666

 

 

US

-186

0

0

0

0

-37

 

 

TESCO BANK

264

225

191

194

194

214

 

 

GROUP TRADING PROFIT

3714

3969

3525

3315

1390

3,183

 

 


A spreadsheet of TESCO PLC is calculated for the period of 2011 to 2015 on the basis of the data provided. It is as follows:

From the calculated table it can be said that, the group revenue was £ 61174 million in the year 2011, £ 64541 million in the year 2012, £ 63967 million in the year 2013, £ 64149 million in the year 2014, and £ 62996 million in the year 2015. This indicates that the average group revenue for the said five years is £ 63365 million. This implies revenue earning follows similar trend (Jaworski, Durante and Härdle, 2013).

On the basis of the revenue earned in 2015, both high and low forecast for the year 2016 can be done and the result £ 69295.6 million for high forecast shows more revenue earnings, and £ 61106.12 million for low forecast shows lower revenue than the present, but not too low (McCraw, 2012).

Similarly, the group trading profit was £ 3714 million in the year 2011, £ 3969 million in the year 2012, £ 3525 million in the year 2013, £ 3315 million in the year 2014 and £ 1390 million in the year 2015. This implies that with the decrease in the group revenue earning in the year 2015, the group trading profit has also decreased in the year 2015, as the group cost has increased in the year 2015 to £ 61606 million from £ 57460 million in the year 2011.

The situation or the trend of the company for the five years can easily be understood and explained from the following line graph, column chart and pie chart (Ross, 2012):

This line graph represents the group revenue of the company for five years. It is clear from the graph that, suddenly the revenue increases in the year 2012, then it started to fall slowly.

This column graph represents the group trading profit of the company for five years. It is clear from the graph that, the highest profit occurred in the year 2012; the revenue earned was also highest. And the profit decreased most in the year 2015.

This pie chart represents the group cost of the company for the five years, calculated by deducting the group profit from the group revenue (Thompson, 2012). This indicates that the cost was almost similar in the five years.

 

References:

Jaworski, P., Durante, F. and Härdle, W. (2013). Copulae in mathematical and quantitative finance. Berlin: Springer.

McCraw, T. (2012). The founders and finance. Cambridge, Mass.: Belknap Press of Harvard University Press.

Ross, S. (2012). Fundamentals of corporate finance. New York: McGraw-Hill.

Thompson, T. (2012). Benchmarking the finance function 2012. Morrisotwn, NJ: Financial Executives Research Foundation.

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