Describe the meaning of astate of nature, and explain how this concept is used to provide expected measures of return and risk.

Finance

9. In 2003, several investment banking firms were fined $1.4 billion for ethics abuses related to the underwriting process. Will this be a deterrent for ethical lapses?

7. Describe the meaning of a state of nature, and explain how this concept is used to provide expected measures of return and risk.

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