NO.PZ202105270100000101
问题如下：
Explain what additional step(s) Wuyan should have taken in the process of setting capital market expectations.
选项：
解释：
The process of setting capital market expectations (CMEs) involves the following seven steps:
A Specify the set of expectations needed, including the time horizon(s) to which they apply.
B Research the historical record.
C Specify the method(s) and/or model(s) to be used and their information requirements.
D Determine the best sources for information needs.
E Interpret the current investment environment using the selected data and methods, applying experience and judgment.
F Provide the set of expectations needed, documenting conclusions.
G Monitor actual outcomes and compare them with expectations, providing feedback to improve the expectation-setting process.
The first step, which specifies the set of expectations needed, is carried out by the firm. Wuyan, in developing a statistical model based on a dividend discount method, researched the historical data seeking to identify the relevant variables and determined the best source of data for the model. In her report, she also noted her interpretation of the current economic and market environment. To complete the process, Wuyan should complete Steps 6 and 7. Wuyan should provide the set of expectations needed, documenting the conclusions, and include the reasoning and assumptions underlying the projections. Then, she should monitor the actual outcomes and compare them with the expectations, providing feedback to assess and improve the accuracy of the process. The comparison of the capital market expectations estimated by the model against actual results provides a quantitative evaluation of forecast error. The feedback from this step can be used to improve the expectation-setting process.
资本市场预期的设定过程包括以下七个步骤:
A 指定所需的期望集，包括它们应用的时间范围。
B 研究一下历史记录。
C 指定所使用的方法及/或模型及其所需的资料。
D 确定信息需求的最佳来源。
E运用所选的数据和方法，运用经验和判断，解读当前的投资环境。
F提供所需的期望集，记录结论。
G监控实际结果，并将其与预期进行比较，提供反馈以改进预期设定过程。
第一步指定了所需的期望集，由公司执行。Wuyan在建立基于股利折现法的统计模型时，对历史数据进行了研究，试图找出相关变量，并确定模型的最佳数据来源。她在报告中还提到她对当前经济和市场环境的解释。为了完成这个过程，Wuyan应该完成第6步和第7步。Wuyan应提供所需的预期集，记录结论，并包括推理和预测的假设。之后她应该监控实际的结果，并将它们与预期进行比较，提供反馈以评估和提高过程的准确性。将模型估计的资本市场预期与实际结果进行比较，可以定量评估预测误差。此步骤的反馈可用于改进预期设置过程。
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