03
$'& $1$/2* ,1387
7KH 03 SDUW KDV D VZLWFKHG FDSDFLWRU W\SH LQSXW
FLUFXLW 7KLV PHDQV WKDW WKH LQSXW LPSHGDQFH FKDQJHV
ZLWK HDFK SKDVH RI WKH LQSXW FORFNV )LJXUH VKRZV DQ
HTXLYDOHQW LQSXW FLUFXLW
WKHUHIRUH WKH $'& LQSXW UDQJH LV JLYHQ E\
,133 '57 '5%
ºÆ É ô ½ ô
4/0*$,1
'5()
$9''
$,1
: 6DPSOH:
S)
6DPSOH
ï
S) :
*DPPD '$&
S)
6DPSOH
7KH 03 LQFRUSRUDWHV D SURSULHWDU\ LQWHUQDO JDPPD
FRUUHFWLRQ FLUFXLW WKDW DGMXVW WKH OLQHDULW\ RI WKH $'& WR
SURYLGH DQ HLJKW VHJPHQW DSSUR[LPDWLRQ RI WKH IXQFWLRQ
Æ É 4/0
',1 U Q
'5()
)LJXUH $'& (TXLYDOHQW ,QSXW &LUFXLW
$'& *DLQ DQG 2IIVHW DQG 5HODWLRQVKLS WR '$& 'DWD
(DFK FKDQQHO RI WKH 03 FRQWDLQV D ELW $'& D ELW
'$& ZLWK WKH 06% LQWHUQDOO\ VHW KLJK DFWLYH ELWV
GULYLQJ WKH SRVLWLYH UHIHUHQFH DQG D ELW '$& GULYLQJ WKH
QHJDWLYH UHIHUHQFH RI WKH $'&·V ODGGHU QHWZRUN 7KH
UHODWLRQVKLS EHWZHHQ WKH $'& JDLQ DQG RIIVHW DQG WKH
'$& 'DWD FDQ EH H[SUHVVHG PDWKHPDWLFDOO\ $VVLJQ WKH
WHUPV 957 DQG 95% WR UHSUHVHQW WKH YROWDJHV IRU WKH $'&
IXOO VFDOH DQG ]HUR OHYHOV UHVSHFWLYHO\ &RGH JDLQ DQG
&RGH RII UHSUHVHQW WKH GLJLWDO YDOXH IRU WKH JDLQ DQG RIIVHW
SDUDPHWHUV VHW E\ WKH '$&V
957 DQG 95% DUH GHILQHG E\ WKH HTXDWLRQV
ºÆ É ô ½ ô '2))
4/02))
'5()
ºÆ É ô ½ ô ')6
4/0*$,1
'5() '5%
:KHUH KDV D YDOXH RI WR DQG Q LV WKH QXPEHU RI
ELWV LQ WKH $'& 7KH YDOXH RI JDPPD LV FRQWUROOHG
XVLQJ D ELW '$& WR SURYLGH VWHSV RI FRUUHFWLRQ JLYHQ
LQ 7DEOH 7KH YDOXHV IRU WKH FRGHV EHWZHHQ HDFK WDS
SRLQW LV D OLQHDU LQWHUSRODWLRQ EHWZHHQ HDFK RI WKH
FRUUHVSRQGLQJ WDS SRLQW YROWDJHV 7KLV UHVXOWV LQ VPDOO
HUURUV IRU WKHVH FRGHV ZKHQ UHIHUUHG WR WKH LGHDO JDPPD
WUDQVIHU FXUYH DV VKRZQ LQ )LJXUH 7KH YDOXH RI JDPPD
LV ZULWWHQ WR WKH 03 E\ VHWWLQJ &175$ WR
DQG ZULWLQJ WKH JDPPD ZRUG IRU HDFK $'& WR WKH
'&% SRUW VLPLODU WR QRUPDO RSHUDWLRQ 7KH '$&·V DUH
LPPHGLDWHO\ XSGDWHG RQ WKH IDOOLQJ HGJH RI HDFK RI WKH
FORFN LQSXWV 'XULQJ WKH WLPH ZKHQ WKH FLUFXLW LV LQ WKH
JDPPD ZULWH PRGH WKH $'& LV QRQRSHUDEOH DQG WKH GDWD
SUHVHQW DW WKH RXWSXW RI WKH $'& SRUW LV LQYDOLG *DPPD
'$& ZULWH WLPLQJ LV VKRZQ LQ )LJXUH
&175/
*DPPD :ULWH
&/.$
&/.%
&/.&
%
$
QV
%
&
QV
1RUPDO 2SHUDWLRQ
QV
'RQ·W &DUH 3L[HO $
2 V
)LJXUH *DPPD '$& :ULWH 7LPLQJ 'LDJUDP
5HY