NO.PZ2023032701000051
问题如下：
Baker informs Covey that the highest and lowest reasonable alternative estimates of the valuation model parameters are as follows: 15% for beta, 20% for equity risk premium, and 25% for growth rate. He asks Covey to perform a sensitivity analysis for each of these parameters while keeping all other inputs at the base case level. Covey’s results are shown in Exhibit 2.
Exhibit 2 Sensitivity Analysis to Model Parameters in Valuation of Wadgett’s Common Shares
Note: The risk-free rate is 1.2% in all cases.
Using the data in Exhibit 2, the parameter that causes the greatest sensitivity in valuing Wadgett’s common shares is the:
选项：
A.beta
growth rate
equity risk premium
解释：
When the low/high measure of each variable is tested singly for sensitivity in predicting a range of intrinsic value while holding the other variables at the base case, the equity risk premium variable produces the largest stock price range, as shown in the following table.
Baker informs Covey that the highest and lowest reasonable alternative estimates of the valuation model parameters are as follows: 15% for beta, 20% for equity risk premium, and 25% for growth rate.
这个可以理解为这三个变量的最高和最低值的平均值为15%、20%和25%吗？还有这三个值跟下面表格有什么关联吗？
