backgroundinvestmentdecisionproblem：背景的投资决策问题.doc

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1、DecisionSuddoMSvstem(DSS):InvestmentdecisionproblemApersonwhojustwon$1()milliondollarscashfrom“Markgoestoafinancialcompanyforhelpandadviseonhowtoinvestthe$10milliondollarscashforayearinstocks,trustsandbankdeposits,andobtainthebestreturn.Thefinanciala

2、dvisorexplainsthattherearerisksinvolvedinbuyingcertainstocksandthataninvestmentportfolioincursexpenses(e.g.commissions)aswellasgeneratingrevenue・Boththeclientandthefinancialadvisorhaveagreedtosomeprofitabilityandsafetygoalsinthattheywouldliketomaximi

3、zetheportfolionetincomebutdonotwanttotakeunnecessaryrisks.Theyhaveidentifiedfivesecuritiestoinvest:AD&Dcommonstock,KingColacommonstock,PolyNetcommonstock一ared-hotInternetstock,certificatesofdeposit(CD)issuedinabank,andunitsofarealestateinvestmenttrus

4、tcalledDelawareREIT(DELREIT).Thisone-yearinvestmentportfoliodecisionproblemisdoneinMicrosoftExcelspreadsheetusingExcePsSolver,andyouarerequiredtowriteExcelformulaandconstraintstohelpwiththecalculationsofthisproblem-seefigurebelow.MicrosoftExcePsSolve

5、rwillthencalculatethenumberofsharesorunitsincellsB3toB7forthefivesecuritiesmentionedabove・The"Constants，'sectionofthespreadsheet(seecellsA10toB34)containthefollowingdata:Taxrateisexpectedtobe30%peryear(cellBl1).SecurityCost•SecurityPurchasePriceExpec

6、tedannualrateofreturnfrominterest÷ndsExpectedgainfromthesaleofasecurity1shareofAD&D$50.0(cellB14)7%(cellBl5)10%(cellBl6)1bankCD$1000.0(cellBl9)6%(cellB20)0%(cellB21)1shareofPolyNct$130.0(cellB23)0%(cellB24)40%(cellB25)1shareofKingCola$80.0(cell

7、B27)8%(cellB28)10%(cellB29)1shareofDelawareREIT$10,000.0(cellB31)15%(cellB32)20%(cellB33)SecurityAdministrativeExpenseRate(calculatedontheamountinvested)AD&D0.003(cellBl7)CD0.001(cellB22)PolyNet0.015(cellB26)KingCola0.004(cellB30)DelawareREIT0.007(ce

8、llB34)The"Calculations”sectionofthespreadsheet(seecellA42tocellB89)containsimmediateresultsthatwillbeusedintheincomestatementofthespreadsheet,and/orwillbeusedasconstraints.WriteExcelformulaforthefollowing:•Theamountinvestedincommonstocks(cellB43)isth