You calculate a 7.8% expected return on the all world fund with a return standard deviation (a measure of risk) of 18.90%. the expected return of the treasury index fund is 5.50% with a return standard deviation of 4.6%. to analyze the relationship between the two investments, you also calculate the covariance between the two of –12.4.

Krier industries has just completed its sales forecasts and its marketing department estimates that the company will sell 43,800 units during the upcoming year. in the past, management has maintained inventories of finished goods at approximately 3 months' sales. however, the estimated inventory at the start of the year of the budget period is only 7,300 units. sales occur evenly throughout the year. what is the estimated production level (units) for the first month of the upcoming budget year?