Interview Question: Quantile Returns

Sample Question #254 (statistics)
 
Let r1, …, rn be the n observed returns of an asset in the sample period. Assume the returns are i.i.d. Denote the i-th order statistic of the sample by r(i). What’s the asymptotic distribution of r(i)?
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One Response to Interview Question: Quantile Returns

  1. Brett says:

    I used a larger font size in the question to make it easier on the eye.

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