Since the work of Markowitz (1959) and Sharpe (1964), Mean-Variance (MV) analysis has been a central focus of financial economics. Problems involving quadratic objective functions generally incorporate a MV analysis. However, estimation error is known to have huge impact on MV optimized portfolios, which is one of the primary reasons to make standard Markowitz optimization unfeasible in practice. In these studies we focus on a relatively new approach introduced by Michaud (1998), resampled efficiency. Michaud argues that the limitations of MV efficiency in practice generally derive from a lack of statistical understanding of MV optimization. He advocates a statistical view of MV optimization that leads to new procedures that can reduce estimation error. Optimal portfolio based on MV efficiency and resampled efficiency is compared in an empirical out-of sample study in term of their performances using Malaysian stock market. We divided the data to three groups, daily, weekly and monthly. We found that, resampled efficiency performed well and group of daily and weekly data have the least estimation error.
In mathematics, the students are urged to answer the questions correctly. Answers with complete sets of solutions shows a certain level of understanding of students. However, it is undeniable that some student had difficulty in answering the questions correctly. The students may not have certain understanding on a particular topic and that does not mean that they are poor in mathematics. Some errors that students do in doing mathematics may due to misunderstanding of questions, incorrect concepts, careless mistakes or skip of required answer steps. The purpose of this study was to give insight to the instructors on the common errors done by the students in solving question with long sets of solution. This research method is a descriptive study, with the aim of finding out the number of percentage and the level of students' mistakes using Newman's Error Analysis. This study focused on year two student that undertook Further Calculus in Engineering emphasised on convergent test of power series using ratio test topic. The data were collected from their final examination answer papers, focused only on related questions. The results show the most common error made by the students were transformation error (38%) and encoding error (38%) and did less in comprehension error (2%). While reading error (5%) and process skill error (17%) could also had been considered low. Instructors must guide the students more on correct transformation (solve fraction and factorisation) and encoding (interval of convergence) in order to solve convergence of power series using ratio test.
Innovation in teaching and learning (TL) aims to improve the effectiveness of the delivery of knowledge. The impact of effective innovation is a teaching method that looks more interesting with higher acceptance among students. Infiniti Cergas Sihat (InCeS) is a teaching aid that contributes to the development of current TL innovation. Attractive color design and interactive method of playing make this innovation easy for students to accept. This study aims to see the effectiveness of InCeS on TL for students and the focus of this study is on special needs students. A total of 40 special needs students from a school in Pulau Pinang have participated in the program involving the InCeS application in TL. Results from the questionnaire given to the teachers involved during the activities show that the students showed interest in the activities that used InCeS. The teacher's participation in the activity also contributes to the interaction in learning for the special needs students.
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