Answer:
The expected return that IMI can provide subject to Johnson's risk constraint is 8.5%
Explanation:
Capital Market Line (CML)
Expected return on the market portfolio, E(
) = 12 %
Standard deviation on the market portfolio, σ
= 20%
Risk-free rate,
= 5%
E(
) =
+ [ E(
) -
] × ( σ
÷ σ
)
= 0.05 + [ 0.12 - 0.05] × (0.10 ÷ 0.20)
= 8.5%
According to an article that I found online which was written in December 2015, and according to the statistics that STR Global (which is the best at providing information about the global hotel industry), there are about 2,435 hotels with 562,781 rooms in the Asia-Pacific region.
Now, there are probably even more because many new hotels were being built at the time.
Answer:blending of the mix ingredients.
pasteurization.
homogenization.
aging the mix.
freezing.
packaging.
hardening.