可以烦请老师帮忙看下这样回答是否可以，实在是麻烦老师了！

NO.PZ2020012102000007 问题如下 scrithe main issues tharise when concting historicanalysis of reestate returns. Properties tra infrequently so there is no ta on simultaneous perioc transaction prices for a selection of properties. Analysis therefore relies on appraisals. Secony, eaproperty is fferent, it is saito heterogenous. The returns calculatefrom appraisals represent weighteaverages of unobservable returns. Publishereturn series is too smooth anthe sample volatility unrstates the true volatility of returns. It also storts estimates of correlations. 解析:房地产交易不频繁，因此没有选择房地产的同时定期交易价格的数据。因此，分析依赖于评价。其次，每个属性都是不同的，它被称为异质的。从估价中计算出的收益是不可观察到的收益的加权平均数。公布的收益序列过于平滑，样本波动率低估了收益的真实波动率。它还扭曲了对相关性的估计。 如果我只回答“收益序列过于平滑，样本波动率低估了收益的真实波动率。它还扭曲了对相关性的估计。”可以吗？不说Heterogeneity、Invisibility、Immobility是否正确？因为这些我觉得是地产的特性而不是跟历史估计法相关的特性

NO.PZ2020012102000007 问题如下 scrithe main issues tharise when concting historicanalysis of reestate returns. Properties tra infrequently so there is no ta on simultaneous perioc transaction prices for a selection of properties. Analysis therefore relies on appraisals. Secony, eaproperty is fferent, it is saito heterogenous. The returns calculatefrom appraisals represent weighteaverages of unobservable returns. Publishereturn series is too smooth anthe sample volatility unrstates the true volatility of returns. It also storts estimates of correlations. 解析:房地产交易不频繁，因此没有选择房地产的同时定期交易价格的数据。因此，分析依赖于评价。其次，每个属性都是不同的，它被称为异质的。从估价中计算出的收益是不可观察到的收益的加权平均数。公布的收益序列过于平滑，样本波动率低估了收益的真实波动率。它还扭曲了对相关性的估计。 Return calculation from apprisos not in generbithe mereturn.为什么这句话答案里没有写？还是这个观点不重要？只要问道smootheta，都认为是同时影响return 和risk 的？

NO.PZ2020012102000007 问题如下 scrithe main issues tharise when concting historicanalysis of reestate returns. Properties tra infrequently so there is no ta on simultaneous perioc transaction prices for a selection of properties. Analysis therefore relies on appraisals. Secony, eaproperty is fferent, it is saito heterogenous. The returns calculatefrom appraisals represent weighteaverages of unobservable returns. Publishereturn series is too smooth anthe sample volatility unrstates the true volatility of returns. It also storts estimates of correlations. 解析:房地产交易不频繁，因此没有选择房地产的同时定期交易价格的数据。因此，分析依赖于评价。其次，每个属性都是不同的，它被称为异质的。从估价中计算出的收益是不可观察到的收益的加权平均数。公布的收益序列过于平滑，样本波动率低估了收益的真实波动率。它还扭曲了对相关性的估计。 关于预测房地产 StatistiApproach的缺点，需要背诵（掌握主观题考法）嘛？

NO.PZ2020012102000007 问题如下 scrithe main issues tharise when concting historicanalysis of reestate returns. Properties tra infrequently so there is no ta on simultaneous perioc transaction prices for a selection of properties. Analysis therefore relies on appraisals. Secony, eaproperty is fferent, it is saito heterogenous. The returns calculatefrom appraisals represent weighteaverages of unobservable returns. Publishereturn series is too smooth anthe sample volatility unrstates the true volatility of returns. It also storts estimates of correlations. 解析:房地产交易不频繁，因此没有选择房地产的同时定期交易价格的数据。因此，分析依赖于评价。其次，每个属性都是不同的，它被称为异质的。从估价中计算出的收益是不可观察到的收益的加权平均数。公布的收益序列过于平滑，样本波动率低估了收益的真实波动率。它还扭曲了对相关性的估计。 如题。