{"id":208182,"date":"2026-09-26T18:10:00","date_gmt":"2026-09-26T09:10:00","guid":{"rendered":"https:\/\/ichizenholdings.co.jp\/media\/?p=208182"},"modified":"2026-09-25T19:36:15","modified_gmt":"2026-09-25T10:36:15","slug":"no-arbitrage-axiom","status":"publish","type":"post","link":"https:\/\/ichizenholdings.co.jp\/media\/trading\/financial-engineering\/no-arbitrage-axiom\/","title":{"rendered":"\u7b2c2\u56de \u7121\u88c1\u5b9a\u3068\u3044\u3046\u305f\u3063\u305f\u4e00\u3064\u306e\u516c\u7406 \u2015 \u305f\u3060\u4e57\u308a\u304c\u7121\u3044\u3068\u3044\u3046\u524d\u63d0\u3060\u3051\u3067\u4fa1\u683c\u304c\u6c7a\u307e\u308b"},"content":{"rendered":"\n
\n

\u4f4d\u7f6e: \u7b2c1\u90e8 \u7b2c2\u56de \/ \u524d\u63d0: \u7b2c1\u56de \/ \u6570\u5b66\u7de8: \u306a\u3057 \/ \u3053\u306e\u56de\u3067\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3053\u3068: \u540c\u3058\u652f\u6255\u3044\u3092\u751f\u30802\u3064\u306e\u5546\u54c1\u306b\u4fa1\u683c\u5dee\u304c\u3042\u308b\u3068\u304d\u3001\u5143\u624b\u306a\u3057\u3067\u5229\u76ca\u3092\u78ba\u5b9a\u3055\u305b\u308b\u53d6\u5f15\u3092\u7d44\u307f\u7acb\u3066\u308b\u3053\u3068\u304c\u3067\u304d\u308b<\/p>\n<\/blockquote>\n\n\n\n

0. \u7269\u8a9e \u2015 \u624b\u6570\u6599\u304c\u3042\u308b\u3068\u4e00\u7269\u4e00\u4fa1\u304c\u5d29\u308c\u308b<\/h2>\n\n\n\n

\u540c\u3058\u6295\u8cc7\u4fe1\u8a17\u304c\u4e8c\u3064\u306e\u8a3c\u5238\u4f1a\u793e\u3067\u9055\u3046\u5024\u6bb5\u306b\u306a\u3063\u3066\u3044\u305f\u3089\u3001\u5b89\u3044\u65b9\u3067\u8cb7\u3063\u3066\u9ad8\u3044\u65b9\u3067\u58f2\u308c\u3070\u5dee\u984d\u304c\u305d\u306e\u307e\u307e\u5229\u76ca\u306b\u306a\u308a\u307e\u3059\u3002100\u3067\u58f2\u3063\u3066\u3044\u308b\u5546\u54c1\u3068102\u3067\u58f2\u3063\u3066\u3044\u308b\u5546\u54c1\u304c\u3042\u308c\u3070\u3001\u5b89\u3044\u65b9\u3092\u8cb7\u3044\u3001\u9ad8\u3044\u65b9\u3092\u58f2\u308b\u3002\u5c06\u6765\u306e\u53d7\u3051\u53d6\u308a\u306f\u540c\u3058\u5546\u54c1\u3067\u3059\u304b\u3089\u5b8c\u5168\u306b\u76f8\u6bba\u3067\u304d\u3066\u3001\u624b\u5143\u306b2\u3060\u3051\u6b8b\u308a\u307e\u3059\u3002\u5143\u624b\u306f\u30bc\u30ed\u3001\u3069\u306e\u72b6\u614b\u306b\u306a\u3063\u3066\u3082\u640d\u306f\u3057\u306a\u3044\u3002\u3053\u308c\u304c\u300c\u88c1\u5b9a\u300d\u3068\u547c\u3070\u308c\u308b\u53d6\u5f15\u3067\u3059\u3002<\/p>\n\n\n\n

\u3053\u3093\u306a\u305f\u3060\u4e57\u308a\u304c\u6b8b\u3063\u3066\u3044\u305f\u3089\u3001\u8ab0\u3082\u304c\u3053\u306e\u53d6\u5f15\u306b\u6bba\u5230\u3057\u3066\u3001\u4fa1\u683c\u5dee\u306f\u3042\u3063\u3068\u3044\u3046\u9593\u306b\u6d88\u3048\u3066\u3057\u307e\u3044\u307e\u3059\u3002\u3060\u304b\u3089\u300c\u305f\u3060\u4e57\u308a\u304c\u5b58\u5728\u3057\u306a\u3044\u300d\u3068\u4eee\u5b9a\u3059\u308b\u3060\u3051\u3067\u3001\u540c\u3058\u5c06\u6765\u306e\u53d7\u3051\u53d6\u308a\u3092\u751f\u3080\u4e8c\u3064\u306e\u5546\u54c1\u306f\u540c\u3058\u5024\u6bb5\u3067\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3001\u3068\u3044\u3046\u7d50\u8ad6\u304c\u51fa\u307e\u3059\u3002\u4e00\u7269\u4e00\u4fa1\u3067\u3059\u3002<\/p>\n\n\n\n

\u3068\u3053\u308d\u304c\u73fe\u5b9f\u306e\u5e02\u5834\u306b\u306f\u624b\u6570\u6599\u304c\u3042\u308a\u307e\u3059\u3002\u58f2\u8cb7\u306e\u305f\u3073\u306b\u7247\u90530.5\u30d1\u30fc\u30bb\u30f3\u30c8\u3001\u5f80\u5fa9\u30671\u30d1\u30fc\u30bb\u30f3\u30c8\u306e\u624b\u6570\u6599\u304c\u304b\u304b\u308b\u3068\u3057\u307e\u3057\u3087\u3046\u3002\u5148\u307b\u3069\u306e\u4f8b\u3067101\u306e\u5546\u54c1\u3092\u58f2\u308b\u3068\u3001\u624b\u53d6\u308a\u306f\u624b\u6570\u6599\u3092\u5f15\u3044\u3066\u7d04100.5\u3067\u3059\u3002100\u306e\u5546\u54c1\u3092\u8cb7\u3046\u3068\u3001\u624b\u6570\u6599\u3092\u8db3\u3057\u3066\u7d04100.5\u306e\u652f\u6255\u3044\u3067\u3059\u3002\u5dee\u3057\u5f15\u304d\u306f\u30de\u30a4\u30ca\u30b90.005\u3002\u5229\u76ca\u3092\u624b\u6570\u6599\u304c\u98df\u3044\u5c3d\u304f\u3057\u3066\u3001\u3080\u3057\u308d\u640d\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

\u8a08\u7b97\u3059\u308b\u3068\u3001\u624b\u6570\u6599\u8fbc\u307f\u3067\u88c1\u5b9a\u304c\u6210\u308a\u7acb\u305f\u306a\u3044\u4fa1\u683c\u306e\u7bc4\u56f2\u306f\u7d0499\u304b\u3089\u7d04101\u307e\u3067\u3001\u5e45\u306b\u3057\u3066\u7d042\u3067\u3059\u3002\u3053\u306e\u5e2f\u306e\u4e2d\u3067\u306f\u4fa1\u683c\u5dee\u304c\u3042\u3063\u3066\u3082\u5132\u3051\u304c\u51fa\u307e\u305b\u3093\u3002\u4e00\u7269\u4e00\u4fa1\u306f\u300c\u3074\u3063\u305f\u308a\u540c\u3058\u5024\u6bb5\u300d\u304b\u3089\u300c\u5e2f\u300d\u306b\u7de9\u3080\u306e\u3067\u3059\u3002<\/p>\n\n\n\n

\u3053\u306e\u56de\u3067\u306f\u3001\u305f\u3060\u4e57\u308a\u304c\u7121\u3044\u3068\u3044\u3046\u305f\u3063\u305f\u3072\u3068\u3064\u306e\u524d\u63d0\u304b\u3089\u3001\u4e00\u7269\u4e00\u4fa1\u3092\u542b\u3080\u4e09\u3064\u306e\u6cd5\u5247\u3092\u8a3c\u660e\u3057\u3001\u524d\u63d0\u304c\u5d29\u308c\u305f\u3068\u304d\u6cd5\u5247\u304c\u3069\u3046\u7de9\u3080\u304b\u3092\u6570\u5024\u3067\u78ba\u304b\u3081\u307e\u3059\u3002<\/p>\n\n\n\n

1. \u52d5\u6a5f \u2015 \u305f\u3060\u4e57\u308a\u304c\u7121\u3044\u3001\u3068\u3044\u3046\u4e00\u884c\u304b\u3089\u59cb\u3081\u308b<\/h2>\n\n\n\n

\u3053\u306e\u56de\u3092\u8aad\u307f\u7d42\u3048\u308b\u3068\u3001\u540c\u3058\u652f\u6255\u3044\u3092\u751f\u30802\u3064\u306e\u5546\u54c1\u306b\u4fa1\u683c\u5dee\u304c\u3042\u308b\u3068\u304d\u3001\u5143\u624b\u306a\u3057\u3067\u5229\u76ca\u3092\u78ba\u5b9a\u3055\u305b\u308b\u53d6\u5f15\u3092\u7d44\u307f\u7acb\u3066\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n

\u91d1\u878d\u306e\u7406\u8ad6\u306b\u306f\u3001\u4eee\u5b9a\u304c\u305f\u304f\u3055\u3093\u51fa\u3066\u304d\u307e\u3059\u3002\u52b9\u7387\u7684\u5e02\u5834\u3001\u5408\u7406\u7684\u306a\u6295\u8cc7\u5bb6\u3001\u6b63\u898f\u5206\u5e03\u3001\u9023\u7d9a\u6642\u9593\u2026\u2026\u3002\u305d\u306e\u3069\u308c\u3088\u308a\u3082\u6839\u672c\u306b\u3042\u308b\u516c\u7406\u304c\u3072\u3068\u3064\u3060\u3051\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

\u88c1\u5b9a\u6a5f\u4f1a\u304c\u5b58\u5728\u3057\u306a\u3044\u3002<\/strong><\/p>\n\n\n\n

\u88c1\u5b9a\u3068\u306f\u300c\u5143\u624b\u30bc\u30ed\u3067\u640d\u3092\u3059\u308b\u53ef\u80fd\u6027\u304c\u306a\u304f\u3001\u3057\u304b\u3082\u5f97\u3092\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u53d6\u5f15\u300d\u306e\u3053\u3068\u3067\u3059\u3002\u305f\u3060\u4e57\u308a\u3067\u3059\u3002\u7121\u88c1\u5b9a\u3068\u306f\u3001\u305d\u3046\u3044\u3046\u305f\u3060\u4e57\u308a\u304c\u5e02\u5834\u306b\u7121\u3044\u3001\u3068\u3044\u3046\u524d\u63d0\u3067\u3059\u3002<\/p>\n\n\n\n

\u3053\u306e\u4e00\u884c\u3092\u8a8d\u3081\u308b\u3060\u3051\u3067\u3001\u9a5a\u304f\u307b\u3069\u591a\u304f\u306e\u7d50\u8ad6\u304c\u51fa\u307e\u3059\u3002\u540c\u3058\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u30802\u3064\u306e\u5546\u54c1\u306f\u540c\u3058\u4fa1\u683c\u306b\u306a\u308b\u3002\u3088\u308a\u5927\u304d\u306a\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u3080\u5546\u54c1\u306f\u3088\u308a\u9ad8\u3044\u4fa1\u683c\u306b\u306a\u308b\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u8db3\u3057\u7b97\u306f\u4fa1\u683c\u306e\u8db3\u3057\u7b97\u306b\u5bfe\u5fdc\u3059\u308b\u3002\u4eca\u56de\u306f\u3053\u306e3\u3064\u3092\u8a3c\u660e\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

\u9006\u306b\u3001\u3053\u306e\u4e00\u884c\u3092\u652f\u3048\u308b\u4eee\u5b9a\u304c\u73fe\u5b9f\u3067\u5d29\u308c\u308b\u3068\u4f55\u304c\u8d77\u304d\u308b\u304b\u3082\u898b\u307e\u3059\u3002\u624b\u6570\u6599\u3084\u7a7a\u58f2\u308a\u898f\u5236\u304c\u3042\u308b\u3068\u3001\u7121\u88c1\u5b9a\u306e\u5e30\u7d50\u306f\u3069\u3046\u7de9\u3080\u306e\u304b\u3002\u6570\u5024\u3067\u78ba\u304b\u3081\u307e\u3059\u3002<\/p>\n\n\n\n

\u3053\u306e\u7bc0\u306e\u307e\u3068\u3081: \u672c\u30b7\u30ea\u30fc\u30ba\u304c\u552f\u4e00\u306e\u516c\u7406\u3068\u3057\u3066\u63a1\u7528\u3059\u308b\u300c\u7121\u88c1\u5b9a\u300d\u306e\u610f\u5473\u3068\u3001\u305d\u3053\u304b\u3089\u4f55\u304c\u5c0e\u3051\u308b\u304b\u306e\u898b\u901a\u3057\u3092\u793a\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n

\u3053\u306e\u8a18\u4e8b\u3067\u8a3c\u660e\u3059\u308b\u3053\u3068<\/h3>\n\n\n\n
    \n\n
  • THM-NA-1\uff08\u4e00\u7269\u4e00\u4fa1\uff09<\/strong> \u540c\u3058\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u30802\u3064\u306e\u5546\u54c1\u306e\u4fa1\u683c\u304c\u7570\u306a\u308c\u3070\u88c1\u5b9a\u304c\u69cb\u6210\u3067\u304d\u3001\u7121\u88c1\u5b9a\u5e02\u5834\u3067\u306f\u4fa1\u683c\u304c\u4e00\u81f4\u3057\u307e\u3059\u3002<\/li>\n\n\n
  • THM-NA-2\uff08\u512a\u52a3\u306e\u4fdd\u5b58\uff09<\/strong> \u5546\u54c1 A \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u3069\u306e\u72b6\u614b\u3067\u3082\u5546\u54c1 B \u4ee5\u4e0a\u3067\u3042\u308c\u3070\u3001\u7121\u88c1\u5b9a\u5e02\u5834\u3067\u306f A \u306e\u4fa1\u683c\u306f B \u306e\u4fa1\u683c\u4ee5\u4e0a\u3067\u3059\u3002<\/li>\n\n\n
  • THM-NA-3\uff08\u4fa1\u683c\u306e\u7dda\u5f62\u6027\uff09<\/strong> \u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u548c\u3067\u4f5c\u3089\u308c\u305f\u5546\u54c1\u306e\u4fa1\u683c\u306f\u3001\u305d\u308c\u305e\u308c\u306e\u4fa1\u683c\u306e\u548c\u306b\u7b49\u3057\u304f\u306a\u308a\u307e\u3059\u3002\u5b9a\u6570\u500d\u306b\u3064\u3044\u3066\u3082\u540c\u69d8\u3067\u3059\u3002<\/li>\n\n<\/ul>\n\n\n\n

    2. \u8a2d\u5b9a\u3068\u4eee\u5b9a \u2015 \u3069\u3093\u306a\u5e02\u5834\u3092\u8003\u3048\u308b\u304b<\/h2>\n\n\n\n

    \u7d50\u8ad6\u3092\u6b63\u78ba\u306b\u5c0e\u304f\u305f\u3081\u306b\u3001\u3053\u3053\u3067\u5e02\u5834\u306e\u4eee\u5b9a\u3092\u5168\u90e8\u66f8\u304d\u51fa\u3057\u307e\u3059\u3002\u5f8c\u306e\u7bc0\u3067\u3069\u306e\u4eee\u5b9a\u304c\u58ca\u308c\u308b\u3068\u4f55\u304c\u8d77\u304d\u308b\u304b\u3092\u898b\u308b\u306e\u3067\u3001\u756a\u53f7\u3092\u4ed8\u3051\u3066\u304a\u304d\u307e\u3059\u3002<\/p>\n\n\n\n

      \n\n
    • (A1)<\/strong> \u53d6\u5f15\u30b3\u30b9\u30c8\u3001\u7a0e\u3001\u58f2\u8cb7\u306e\u5024\u5e45\u306f\u7121\u3044\u3002<\/li>\n\n\n
    • (A2)<\/strong> \u7a7a\u58f2\u308a\u304c\u3067\u304d\u3001\u4efb\u610f\u306e\u5b9f\u6570\u5358\u4f4d\u3067\u58f2\u8cb7\u3067\u304d\u308b\u3002<\/li>\n\n\n
    • (A3)<\/strong> \u501f\u5165\u3068\u8cb8\u51fa\u306f\u540c\u4e00\u306e\u91d1\u5229\u3067\u3001\u3044\u304f\u3089\u3067\u3082\u3067\u304d\u308b\u3002<\/li>\n\n\n
    • (A4)<\/strong> \u81ea\u5206\u306e\u58f2\u8cb7\u304c\u4fa1\u683c\u3092\u52d5\u304b\u3055\u306a\u3044\u3002<\/li>\n\n\n
    • (A5)<\/strong> \u53d6\u5f15\u306f\u5373\u5ea7\u306b\u6210\u7acb\u3057\u3001\u76f8\u624b\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u306f\u7121\u3044\u3002<\/li>\n\n<\/ul>\n\n\n\n

      \u3053\u308c\u3089\u306e\u4eee\u5b9a\u306e\u3082\u3068\u3067\u3001\u88c1\u5b9a<\/strong>\u3092\u6b21\u306e\u3088\u3046\u306b\u5b9a\u7fa9\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

      \u88c1\u5b9a\u3068\u306f\u3001\u6b21\u306e3\u3064\u306e\u6761\u4ef6\u3092\u540c\u6642\u306b\u6e80\u305f\u3059\u53d6\u5f15\u306e\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n\n

        \n\n
      1. \u6642\u523b0\u3067\u652f\u6255\u3046\u91d1\u984d\u304c\u30bc\u30ed\u4ee5\u4e0b\uff08\u5143\u624b\u304c\u30bc\u30ed\u304b\u3001\u3080\u3057\u308d\u304a\u91d1\u304c\u5165\u308b\uff09\u3002<\/li>\n\n\n
      2. \u6e80\u671f\u306b\u3069\u306e\u72b6\u614b\u304c\u8d77\u304d\u3066\u3082\u3001\u640d\u5931\u304c\u51fa\u306a\u3044\u3002<\/li>\n\n\n
      3. \u5c11\u306a\u304f\u3068\u3082\u3072\u3068\u3064\u306e\u72b6\u614b\u3067\u3001\u6b63\u306e\u5229\u76ca\u304c\u5f97\u3089\u308c\u308b\u3002<\/li>\n\n<\/ol>\n\n\n\n

        \u5e02\u5834\u306b\u3053\u306e\u3088\u3046\u306a\u53d6\u5f15\u304c\u5b58\u5728\u3057\u306a\u3044\u3068\u304d\u3001\u305d\u306e\u5e02\u5834\u306f\u7121\u88c1\u5b9a<\/strong>\u3067\u3042\u308b\u3068\u3044\u3044\u307e\u3059\u3002<\/p>\n\n\n\n

        \u6ce8\u610f\u3059\u3079\u304d\u70b9\u306f\u3001\u88c1\u5b9a\u306e\u5b9a\u7fa9\u306b\u300c\u3069\u306e\u72b6\u614b\u304c\u3069\u306e\u304f\u3089\u3044\u306e\u983b\u5ea6\u3067\u8d77\u304d\u308b\u304b\u300d\u306f\u4e00\u5207\u542b\u307e\u308c\u3066\u3044\u306a\u3044\u3053\u3068\u3067\u3059\u3002\u4f7f\u3046\u306e\u306f\u300c\u3069\u306e\u72b6\u614b\u304c\u8d77\u3053\u308a\u3046\u308b\u304b\u300d\u3060\u3051\u3067\u3059\u3002<\/p>\n\n\n\n

        \u3053\u306e\u7bc0\u306e\u307e\u3068\u3081: \u6469\u64e6\u306e\u7121\u3044\u7406\u60f3\u7684\u306a\u5e02\u5834\u3092\u4eee\u5b9a\u3057\u3001\u88c1\u5b9a\u3068\u7121\u88c1\u5b9a\u306e\u5b9a\u7fa9\u3092\u8ff0\u3079\u307e\u3057\u305f\u3002<\/p>\n\n\n\n

        3. \u4e3b\u5f35 \u2015 \u7121\u88c1\u5b9a\u304b\u3089\u51fa\u308b3\u3064\u306e\u5e30\u7d50<\/h2>\n\n\n\n

        \u3053\u3053\u304b\u30893\u3064\u306e\u5b9a\u7406\u3092\u6b63\u78ba\u306b\u8ff0\u3079\u307e\u3059\u3002\u3069\u308c\u3082\u300c\u3082\u3057\u7121\u88c1\u5b9a\u306a\u3089\u3070\u3001\u4fa1\u683c\u306b\u3053\u306e\u6027\u8cea\u304c\u3042\u308b\u300d\u3068\u3044\u3046\u5f62\u306e\u4e3b\u5f35\u3067\u3059\u3002<\/p>\n\n\n\n

        \n

        \u5b9a\u7406 THM-NA-1\uff08\u4e00\u7269\u4e00\u4fa1\uff09<\/strong>\n\u5546\u54c1 A \u3068\u5546\u54c1 B \u304c\u3001\u6e80\u671f\u306b\u3069\u306e\u72b6\u614b\u3067\u3082\u540c\u3058\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u3080\u3068\u3059\u308b\u3002\u5e02\u5834\u304c\u7121\u88c1\u5b9a\u3067\u3042\u308b\u306a\u3089\u3070\u3001<\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3042\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n

        \n

        \u5b9a\u7406 THM-NA-2\uff08\u512a\u52a3\u306e\u4fdd\u5b58\uff09<\/strong>\n\u6e80\u671f\u306b\u3069\u306e\u72b6\u614b\u3067\u3082\u5546\u54c1 A \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u5546\u54c1 B \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u4ee5\u4e0a\u3067\u3042\u308b\u3068\u3059\u308b\u3002\u5e02\u5834\u304c\u7121\u88c1\u5b9a\u3067\u3042\u308b\u306a\u3089\u3070\u3001<\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2265<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3042\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n

        \n

        \u5b9a\u7406 THM-NA-3\uff08\u4fa1\u683c\u306e\u7dda\u5f62\u6027\uff09<\/strong>\n\u5546\u54c1 Z \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u3001\u5546\u54c1 X \u3068\u5546\u54c1 Y \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u548c\u306b\u7b49\u3057\u3044\u3068\u3059\u308b\u3002\u5e02\u5834\u304c\u7121\u88c1\u5b9a\u3067\u3042\u308b\u306a\u3089\u3070\u3001<\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3042\u308b\u3002\u3055\u3089\u306b\u3001\u5b9a\u6570 <\/span>\u03b1<\/span><\/span><\/span><\/span><\/eq> \u306b\u5bfe\u3057\u3066\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c <\/span>\u03b1<\/span><\/span><\/span><\/span><\/eq> \u500d\u306e\u5546\u54c1\u306e\u4fa1\u683c\u306f <\/span>\u03b1<\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3042\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n

        THM-NA-1 \u306f\u300c\u540c\u3058\u3082\u306e\u306b\u306f\u540c\u3058\u5024\u6bb5\u304c\u4ed8\u304f\u300d\u3001THM-NA-2 \u306f\u300c\u826f\u3044\u3082\u306e\u306b\u306f\u9ad8\u3044\u5024\u6bb5\u304c\u4ed8\u304f\u300d\u3001THM-NA-3 \u306f\u300c\u90e8\u54c1\u306e\u5024\u6bb5\u3092\u8db3\u305b\u3070\u5168\u4f53\u306e\u5024\u6bb5\u306b\u306a\u308b\u300d\u3068\u8aad\u3081\u307e\u3059\u3002\u5f53\u305f\u308a\u524d\u306b\u805e\u3053\u3048\u307e\u3059\u304c\u3001\u3053\u3053\u3067\u5927\u4e8b\u306a\u306e\u306f\u300c\u5f53\u305f\u308a\u524d\u3060\u304b\u3089\u6b63\u3057\u3044\u300d\u3067\u306f\u306a\u304f\u300c\u7121\u88c1\u5b9a\u3068\u3044\u3046\u516c\u7406\u4e00\u3064\u304b\u3089\u8ad6\u7406\u7684\u306b\u5c0e\u3051\u308b\u300d\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n\n

        \u3053\u306e\u7bc0\u306e\u307e\u3068\u3081: \u7121\u88c1\u5b9a\u304b\u3089\u5f93\u30463\u3064\u306e\u5e30\u7d50\u3092\u3001\u5b9a\u7406\u3068\u3057\u3066\u6b63\u78ba\u306b\u8ff0\u3079\u307e\u3057\u305f\u3002<\/p>\n\n\n\n

        \u8a3c\u660e\u3092\u8aad\u3080\uff08\u8aad\u307e\u306a\u304f\u3066\u3082\u8a18\u4e8b\u306f\u5b8c\u7d50\u3057\u307e\u3059\uff09<\/summary>\n

        4. \u8a3c\u660e \u2015 \u4fa1\u683c\u5dee\u304c\u3042\u308c\u3070\u5fc5\u305a\u5132\u3051\u304c\u4f5c\u308c\u308b\u3053\u3068\u3092\u898b\u308b<\/h2>\n

        \u3053\u306e\u7bc0\u306f\u8aad\u307e\u306a\u304f\u3066\u3082\u8a18\u4e8b\u306f\u5b8c\u7d50\u3057\u307e\u3059\u3002<\/p>\n

        THM-NA-1\uff08\u4e00\u7269\u4e00\u4fa1\uff09\u306e\u8a3c\u660e<\/h3>\n

        \u5bfe\u5076\u3092\u793a\u3057\u307e\u3059\u3002<\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\ue020<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306a\u3089\u3070\u88c1\u5b9a\u304c\u5b58\u5728\u3059\u308b\u3053\u3068\u3092\u793a\u305b\u3070\u3088\u3044\u3067\u3059\u3002<\/p>\n

        \u4e00\u822c\u6027\u3092\u5931\u308f\u305a <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3068\u3057\u307e\u3059\uff08\u9006\u306a\u3089 A \u3068 B \u3092\u5165\u308c\u66ff\u3048\u307e\u3059\uff09\u3002<\/p>\n

        \u88c1\u5b9a\u306e\u69cb\u6210<\/strong>: \u5272\u5b89\u306a A \u3092\u8cb7\u3044\u3001\u5272\u9ad8\u306a B \u3092\u58f2\u308a\u307e\u3059\u3002<\/p>\n

          \n
        • \u6642\u523b0: A \u30921\u5358\u4f4d\u8cb7\u3044\u3001B \u30921\u5358\u4f4d\u58f2\u308a\u307e\u3059\u3002\u652f\u6255\u3044\u984d\u306f <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq>\u3001\u3064\u307e\u308a\u5dee\u984d <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u3092\u53d7\u3051\u53d6\u308a\u307e\u3059\u3002<\/li>\n
        • \u6e80\u671f: A \u3068 B \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u4eee\u5b9a\u306b\u3088\u308a\u5168\u3066\u306e\u72b6\u614b\u3067\u7b49\u3057\u3044\u306e\u3067\u3001A \u304b\u3089\u5f97\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3067 B \u306e\u652f\u6255\u3044\u7fa9\u52d9\u3092\u3074\u3063\u305f\u308a\u76f8\u6bba\u3067\u304d\u307e\u3059\u3002\u640d\u76ca\u306f\u30bc\u30ed\u3067\u3059\u3002<\/li>\n<\/ul>\n

          \u3053\u308c\u306f\u88c1\u5b9a\u306e3\u6761\u4ef6\u3092\u5168\u3066\u6e80\u305f\u3057\u307e\u3059\u3002<\/p>\n

            \n
          1. \u6642\u523b0\u306e\u652f\u51fa\u306f <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq>\u3002\u5143\u624b\u3092\u51fa\u3059\u3069\u3053\u308d\u304b\u53d7\u3051\u53d6\u3063\u3066\u3044\u307e\u3059\u3002<\/li>\n
          2. \u6e80\u671f\u306e\u640d\u76ca\u306f\u5168\u3066\u306e\u72b6\u614b\u3067\u30bc\u30ed\u3002\u640d\u5931\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/li>\n
          3. \u6642\u523b0\u306b <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u306e\u6b63\u306e\u5229\u76ca\u304c\u3042\u308a\u307e\u3059\u3002<\/li>\n<\/ol>\n

            \u5bfe\u5076\u304c\u793a\u3055\u308c\u305f\u306e\u3067\u3001\u7121\u88c1\u5b9a\u306a\u3089\u3070 <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n

            \u3053\u3053\u3067\u4eee\u5b9a (A2)<\/strong> \u304c\u52b9\u3044\u3066\u3044\u308b\u3053\u3068\u306b\u6ce8\u610f\u3057\u3066\u304f\u3060\u3055\u3044\u3002B \u3092\u58f2\u308b\u306b\u306f\u7a7a\u58f2\u308a\u304c\u5fc5\u8981\u3067\u3059\u3002\u3082\u3057\u7a7a\u58f2\u308a\u304c\u3067\u304d\u306a\u3051\u308c\u3070\u3001\u3053\u306e\u88c1\u5b9a\u306f\u69cb\u6210\u3067\u304d\u307e\u305b\u3093\uff08\u53cd\u4f8b CEX-NA-2 \u3067\u8a73\u3057\u304f\u898b\u307e\u3059\uff09\u3002 \u220e<\/p>\n

            THM-NA-2\uff08\u512a\u52a3\u306e\u4fdd\u5b58\uff09\u306e\u8a3c\u660e<\/h3>\n

            \u5bfe\u5076\u3092\u793a\u3057\u307e\u3059\u3002<\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306a\u3089\u3070\u88c1\u5b9a\u304c\u5b58\u5728\u3059\u308b\u3053\u3068\u3092\u793a\u3057\u307e\u3059\u3002<\/p>\n

            \u88c1\u5b9a\u306e\u69cb\u6210<\/strong>: A \u3092\u8cb7\u3044\u3001B \u3092\u58f2\u308a\u307e\u3059\u3002<\/p>\n

              \n
            • \u6642\u523b0: \u652f\u51fa\u306f <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq>\u3002\u5dee\u984d <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u3092\u53d7\u3051\u53d6\u308a\u307e\u3059\u3002<\/li>\n
            • \u6e80\u671f: A \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092 <\/span>CF<\/span><\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq>\u3001B \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092 <\/span>CF<\/span><\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3068\u66f8\u304f\u3068\u3001\u53d7\u53d6\u306f <\/span>CF<\/span><\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>CF<\/span><\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u4eee\u5b9a\u306b\u3088\u308a\u5168\u3066\u306e\u72b6\u614b\u3067 <\/span>CF<\/span><\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2265<\/span><\/span><\/span><\/span>CF<\/span><\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u304b\u3089\u3001<\/span>CF<\/span><\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>CF<\/span><\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2265<\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u640d\u5931\u306f\u51fa\u307e\u305b\u3093\u3002<\/li>\n<\/ul>\n

              \u88c1\u5b9a\u306e3\u6761\u4ef6\u3092\u78ba\u8a8d\u3057\u307e\u3059\u3002<\/p>\n

                \n
              1. \u6642\u523b0\u306e\u652f\u51fa\u306f <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq>\u3002\u5143\u624b\u3092\u51fa\u3057\u3066\u3044\u307e\u305b\u3093\u3002<\/li>\n
              2. \u6e80\u671f\u306e\u640d\u76ca\u306f\u5168\u3066\u306e\u72b6\u614b\u3067 <\/span>CF<\/span><\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>CF<\/span><\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2265<\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq>\u3002\u975e\u8ca0\u3067\u3059\u3002<\/li>\n
              3. \u6642\u523b0\u306b <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u306e\u6b63\u306e\u5229\u76ca\u304c\u78ba\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ol>\n

                \u5bfe\u5076\u304c\u793a\u3055\u308c\u305f\u306e\u3067\u3001\u7121\u88c1\u5b9a\u306a\u3089\u3070 <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2265<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n

                \u3053\u306e\u8a3c\u660e\u3067\u3082\u4eee\u5b9a (A2)<\/strong> \u3092\u4f7f\u3063\u3066\u3044\u307e\u3059\u3002\u5272\u9ad8\u306a B \u3092\u7a7a\u58f2\u308a\u3057\u3066\u3044\u307e\u3059\u3002 \u220e<\/p>\n

                THM-NA-3\uff08\u4fa1\u683c\u306e\u7dda\u5f62\u6027\uff09\u306e\u8a3c\u660e<\/h3>\n

                <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\ue020<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span><\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306a\u3089\u3070\u88c1\u5b9a\u304c\u5b58\u5728\u3059\u308b\u3053\u3068\u3092\u793a\u3057\u307e\u3059\u30022\u3064\u306e\u5834\u5408\u306b\u5206\u3051\u307e\u3059\u3002<\/p>\n

                \u5834\u54081: <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq><\/strong><\/p>\n

                Z \u30921\u5358\u4f4d\u58f2\u308a\u3001X \u30921\u5358\u4f4d\u8cb7\u3044\u3001Y \u30921\u5358\u4f4d\u8cb7\u3044\u307e\u3059\u3002<\/p>\n

                  \n
                • \u6642\u523b0: \u53d7\u53d6\u306f <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/li>\n
                • \u6e80\u671f: Z \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f <\/span>CF<\/span><\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>CF<\/span><\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306b\u7b49\u3057\u3044\u306e\u3067\u3001X \u3068 Y \u304b\u3089\u5f97\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3067 Z \u306e\u652f\u6255\u3044\u7fa9\u52d9\u3092\u3074\u3063\u305f\u308a\u76f8\u6bba\u3057\u307e\u3059\u3002\u640d\u76ca\u306f\u30bc\u30ed\u3067\u3059\u3002<\/li>\n<\/ul>\n

                  \u88c1\u5b9a\u306e\u6761\u4ef6\u3092\u6e80\u305f\u3057\u307e\u3059\u3002\u6642\u523b0\u306b\u6b63\u306e\u5229\u76ca\u3001\u6e80\u671f\u306b\u640d\u5931\u306a\u3057\u3067\u3059\u3002<\/p>\n

                  \u5834\u54082: <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq><\/strong><\/p>\n

                  \u5834\u54081\u306e\u9006\u3092\u3084\u308a\u307e\u3059\u3002Z \u30921\u5358\u4f4d\u8cb7\u3044\u3001X \u30921\u5358\u4f4d\u58f2\u308a\u3001Y \u30921\u5358\u4f4d\u58f2\u308a\u307e\u3059\u3002<\/p>\n

                    \n
                  • \u6642\u523b0: \u53d7\u53d6\u306f <\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/li>\n
                  • \u6e80\u671f: X \u3068 Y \u306e\u652f\u6255\u3044\u7fa9\u52d9\u306f Z \u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3067\u76f8\u6bba\u3057\u307e\u3059\u3002\u640d\u76ca\u306f\u30bc\u30ed\u3067\u3059\u3002<\/li>\n<\/ul>\n

                    \u540c\u69d8\u306b\u88c1\u5b9a\u3067\u3059\u3002<\/p>\n

                    \u3069\u3061\u3089\u306e\u5834\u5408\u3082\u88c1\u5b9a\u306b\u306a\u308b\u306e\u3067\u3001\u7121\u88c1\u5b9a\u306a\u3089\u3070 <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n

                    \u5b9a\u6570\u500d\u306b\u3064\u3044\u3066<\/strong>: \u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c <\/span>\u03b1<\/span><\/span>CF<\/span><\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306b\u7b49\u3057\u3044\u5546\u54c1 W \u306e\u4fa1\u683c\u304c <\/span>\u03b1<\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3068\u7570\u306a\u308b\u3068\u3057\u307e\u3059\u3002<\/p>\n

                    <\/span>\u03b1<\/span><\/span>><\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u306e\u5834\u5408\u3092\u793a\u3057\u307e\u3059\u3002<\/span>P<\/span><\/span>W<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>\u03b1<\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306a\u3089\u3070\u3001W \u3092 <\/span>1<\/span><\/span><\/span><\/span><\/eq> \u5358\u4f4d\u58f2\u308a\u3001X \u3092 <\/span>\u03b1<\/span><\/span><\/span><\/span><\/eq> \u5358\u4f4d\u8cb7\u3044\u307e\u3059\u3002\u6642\u523b0\u306b <\/span>P<\/span><\/span>W<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>\u03b1<\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u3092\u53d7\u3051\u53d6\u308a\u3001\u6e80\u671f\u306b\u76f8\u6bba\u3057\u307e\u3059\u3002\u4eee\u5b9a (A2)<\/strong> \u306b\u3088\u308a <\/span>\u03b1<\/span><\/span><\/span><\/span><\/eq> \u306f\u4efb\u610f\u306e\u5b9f\u6570\u3067\u3088\u3044\u306e\u3067\u3001\u6574\u6570\u5358\u4f4d\u3067\u306a\u304f\u3066\u3082\u69cb\u3044\u307e\u305b\u3093\u3002<\/span>P<\/span><\/span>W<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>\u03b1<\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306a\u3089\u3070\u9006\u3092\u3084\u308a\u307e\u3059\u3002<\/span>\u03b1<\/span><\/span><<\/span><\/span><\/span><\/span>0<\/span><\/span><\/span><\/span><\/eq> \u306e\u5834\u5408\u306f\u7b26\u53f7\u3092\u5165\u308c\u66ff\u3048\u308c\u3070\u540c\u3058\u8b70\u8ad6\u304c\u6210\u308a\u7acb\u3061\u307e\u3059\u3002<\/p>\n

                    \u3053\u3053\u3067\u4eee\u5b9a (A1)<\/strong> \u3068 (A3)<\/strong> \u3082\u52b9\u3044\u3066\u3044\u307e\u3059\u3002\u53d6\u5f15\u30b3\u30b9\u30c8\u304c\u30bc\u30ed\u3060\u304b\u3089\u76f8\u6bba\u304c\u5b8c\u5168\u3067\u3042\u308a\u3001\u501f\u5165\u3068\u8cb8\u51fa\u304c\u540c\u4e00\u91d1\u5229\u3060\u304b\u3089\u5dee\u984d\u306e\u904b\u7528\u306b\u5229\u9798\u304c\u751f\u3058\u307e\u305b\u3093\u3002 \u220e<\/p>\n

                    3\u3064\u306e\u8a3c\u660e\u306b\u5171\u901a\u3059\u308b\u30d1\u30bf\u30fc\u30f3\u3092\u78ba\u8a8d\u3057\u307e\u3059\u3002\u3069\u306e\u8a3c\u660e\u3082\u540c\u3058\u69cb\u9020\u3067\u3059\u3002<\/p>\n

                      \n
                    1. \u4fa1\u683c\u304c\u300c\u3042\u308b\u3079\u304d\u95a2\u4fc2\u300d\u304b\u3089\u5916\u308c\u3066\u3044\u308b\u3068\u4eee\u5b9a\u3059\u308b\u3002<\/li>\n
                    2. \u5272\u9ad8\u306a\u65b9\u3092\u58f2\u308a\u3001\u5272\u5b89\u306a\u65b9\u3092\u8cb7\u3046\u3002<\/li>\n
                    3. \u6e80\u671f\u306b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u76f8\u6bba\u3059\u308b\u3002<\/li>\n
                    4. \u6642\u523b0\u306b\u6b8b\u3063\u305f\u5dee\u984d\u304c\u305d\u306e\u307e\u307e\u78ba\u5b9a\u5229\u76ca\u306b\u306a\u308b\u3002<\/li>\n<\/ol>\n

                      \u300c\u5272\u9ad8\u306a\u65b9\u3092\u58f2\u308c\u308b\u300d\u306e\u306f\u4eee\u5b9a (A2)<\/strong>\uff08\u7a7a\u58f2\u308a\u53ef\u80fd\uff09\u306e\u304a\u304b\u3052\u3067\u3001\u300c\u76f8\u6bba\u304c\u5b8c\u5168\u300d\u306a\u306e\u306f\u4eee\u5b9a (A1)<\/strong>\uff08\u624b\u6570\u6599\u30bc\u30ed\uff09\u3068 (A3)<\/strong>\uff08\u91d1\u5229\u304c\u540c\u4e00\uff09\u306e\u304a\u304b\u3052\u3067\u3059\u3002\u4eee\u5b9a\u304c\u5d29\u308c\u308b\u3068\u4f55\u304c\u8d77\u304d\u308b\u304b\u3092\u6b21\u306e\u7bc0\u3067\u898b\u307e\u3059\u3002<\/p>\n<\/details>\n\n\n\n

                      5. \u53cd\u4f8b \u2015 \u624b\u6570\u6599\u3068\u7a7a\u58f2\u308a\u898f\u5236\u3067\u516c\u7406\u306f\u7de9\u3080<\/h2>\n\n\n\n

                      CEX-NA-1: \u53d6\u5f15\u30b3\u30b9\u30c8\u304c\u3042\u308b\u3068\u4e00\u7269\u4e00\u4fa1\u306f\u300c\u5e2f\u300d\u306b\u306a\u308b<\/h3>\n\n\n\n

                      \u4eee\u5b9a (A1)<\/strong> \u3092\u5916\u3057\u3001\u5f80\u5fa9\u306e\u624b\u6570\u6599\u3092 1% \u3068\u3057\u307e\u3059\u3002\u8cb7\u3044\u306b\u7247\u9053 0.5%\u3001\u58f2\u308a\u306b\u7247\u9053 0.5% \u304c\u304b\u304b\u308b\u8a2d\u5b9a\u3067\u3059\u3002<\/p>\n\n\n\n

                      \u5546\u54c1 A \u306e\u4fa1\u683c\u3092 <\/span>100<\/span><\/span><\/span><\/span><\/eq> \u3068\u3057\u307e\u3059\u3002\u540c\u3058\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u3080\u5546\u54c1 B \u306e\u4fa1\u683c\u304c <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306e\u3068\u304d\u3001\u88c1\u5b9a\u3092\u8a66\u307f\u307e\u3059\u3002<\/p>\n\n\n\n

                      \u300cB \u3092\u58f2\u308a A \u3092\u8cb7\u3046\u300d\u88c1\u5b9a<\/strong><\/p>\n\n\n\n

                        \n
                      • B \u3092\u58f2\u3063\u305f\u624b\u53d6\u308a\u306f <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>(<\/span>1<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>0.005<\/span>)<\/span><\/span>=<\/span><\/span><\/span><\/span>0.995<\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/li>\n
                      • A \u3092\u8cb7\u3046\u30b3\u30b9\u30c8\u306f <\/span>100<\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>(<\/span>1<\/span><\/span>+<\/span><\/span><\/span><\/span>0.005<\/span>)<\/span><\/span>=<\/span><\/span><\/span><\/span>100.5<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/li>\n
                      • \u5229\u76ca\u306f <\/span>0.995<\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2212<\/span><\/span><\/span><\/span>100.5<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u3053\u308c\u304c\u6b63\u3067\u306a\u3051\u308c\u3070\u88c1\u5b9a\u306b\u306a\u308a\u307e\u305b\u3093\u3002<\/li>\n<\/ul>\n\n\n\n

                        \u300cA \u3092\u58f2\u308a B \u3092\u8cb7\u3046\u300d\u88c1\u5b9a<\/strong><\/p>\n\n\n\n

                          \n
                        • A \u3092\u58f2\u3063\u305f\u624b\u53d6\u308a\u306f <\/span>100<\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>(<\/span>1<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>0.005<\/span>)<\/span><\/span>=<\/span><\/span><\/span><\/span>99.5<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/li>\n
                        • B \u3092\u8cb7\u3046\u30b3\u30b9\u30c8\u306f <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>(<\/span>1<\/span><\/span>+<\/span><\/span><\/span><\/span>0.005<\/span>)<\/span><\/span>=<\/span><\/span><\/span><\/span>1.005<\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/li>\n
                        • \u5229\u76ca\u306f <\/span>99.5<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>1.005<\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u3053\u308c\u304c\u6b63\u3067\u306a\u3051\u308c\u3070\u88c1\u5b9a\u306b\u306a\u308a\u307e\u305b\u3093\u3002<\/li>\n<\/ul>\n\n\n\n

                          \u4e21\u65b9\u306e\u88c1\u5b9a\u304c\u6210\u7acb\u3057\u306a\u3044\u6761\u4ef6\u3001\u3064\u307e\u308a\u88c1\u5b9a\u304c\u6d88\u3048\u308b <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306e\u7bc4\u56f2\u306f<\/p>\n\n\n\n

                          <\/span><\/span><\/span>1.005<\/span><\/span><\/span><\/span><\/span><\/span><\/span>100<\/span><\/span>\u00d7<\/span><\/span>0.995<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2264<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2264<\/span><\/span><\/span><\/span><\/span><\/span>0.995<\/span><\/span><\/span><\/span><\/span><\/span><\/span>100<\/span><\/span>\u00d7<\/span><\/span>1.005<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n

                          \u3067\u3059\u3002\u8a08\u7b97\u3059\u308b\u3068<\/p>\n\n\n\n

                          <\/span>99.0050<\/span><\/span>\u2264<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2264<\/span><\/span><\/span><\/span>101.0050<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n

                          \u306b\u306a\u308a\u307e\u3059\u3002\u5e2f\u306e\u5e45\u306f\u7d04 <\/span>2.0001<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n\n\n\n

                          \u305f\u3068\u3048\u3070 <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>101<\/span><\/span><\/span><\/span><\/eq> \u306e\u5834\u5408\u3001B \u3092\u58f2\u308a A \u3092\u8cb7\u3046\u88c1\u5b9a\u3092\u8a66\u307f\u308b\u3068<\/p>\n\n\n\n

                          <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>101<\/span><\/span>\u00d7<\/span><\/span>0.995<\/span><\/span>\u2212<\/span><\/span>100<\/span><\/span>\u00d7<\/span><\/span>1.005<\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span>100.495<\/span><\/span>\u2212<\/span><\/span>100.500<\/span><\/span>=<\/span><\/span>\u2212<\/span>0.005<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n

                          \u3068\u306a\u308a\u3001\u624b\u6570\u6599\u3067\u5229\u76ca\u304c\u6d88\u3048\u3066\u88c1\u5b9a\u306f\u6210\u7acb\u3057\u307e\u305b\u3093\u3002<\/p>\n\n\n\n

                          \u624b\u6570\u6599\u304c\u30bc\u30ed\u306a\u3089 <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306e1\u70b9\u306b\u7e1b\u3089\u308c\u3066\u3044\u305f\u4fa1\u683c\u304c\u3001\u624b\u6570\u6599\u304c\u5165\u308b\u3068\u5e45\u3092\u6301\u3064\u5e2f\u306e\u4e2d\u3092\u81ea\u7531\u306b\u52d5\u3051\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002\u4e00\u7269\u4e00\u4fa1\u306f\u7b49\u5f0f\u304b\u3089\u300c\u5e2f\u300d\u306b\u7de9\u3080\u306e\u3067\u3059\u3002<\/p>\n\n\n\n

                          \u3053\u306e\u7bc0\u306e\u307e\u3068\u3081: \u624b\u6570\u6599\u304c\u3042\u308b\u3068\u3001\u4fa1\u683c\u5dee\u304c\u3042\u3063\u3066\u3082\u88c1\u5b9a\u306b\u306a\u3089\u306a\u3044\u7bc4\u56f2\uff08\u5e2f\uff09\u304c\u751f\u307e\u308c\u307e\u3059\u3002<\/p>\n\n\n\n

                          CEX-NA-2: \u7a7a\u58f2\u308a\u7981\u6b62\u3067\u4e00\u7269\u4e00\u4fa1\u304c\u7247\u5074\u3060\u3051\u5d29\u308c\u308b<\/h3>\n\n\n\n

                          \u4eee\u5b9a (A2)<\/strong> \u306e\u3046\u3061\u300c\u7a7a\u58f2\u308a\u304c\u3067\u304d\u308b\u300d\u3092\u5916\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

                          \u5546\u54c1 A \u306e\u4fa1\u683c\u3092 <\/span>100<\/span><\/span><\/span><\/span><\/eq>\u3001\u540c\u3058\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u3080\u5546\u54c1 B \u306e\u4fa1\u683c\u3092 <\/span>103<\/span><\/span><\/span><\/span><\/eq> \u3068\u3057\u307e\u3059\u3002\u624b\u6570\u6599\u306f\u30bc\u30ed\u3067\u3059\u3002<\/p>\n\n\n\n

                          \u7a7a\u58f2\u308a\u304c\u53ef\u80fd\u3067\u3042\u308c\u3070\u3001\u5272\u9ad8\u306a B \u3092\u58f2\u308a\u5272\u5b89\u306a A \u3092\u8cb7\u3046\u3053\u3068\u3067 <\/span>3<\/span><\/span><\/span><\/span><\/eq> \u306e\u78ba\u5b9a\u5229\u76ca\u304c\u5f97\u3089\u308c\u307e\u3059\u3002\u3053\u308c\u304c THM-NA-1 \u306e\u8a3c\u660e\u306e\u624b\u9806\u3067\u3057\u305f\u3002<\/p>\n\n\n\n

                          \u3057\u304b\u3057\u7a7a\u58f2\u308a\u304c\u7981\u6b62\u3055\u308c\u3066\u3044\u308b\u5834\u5408\u3001B \u3092\u4fdd\u6709\u3057\u3066\u3044\u306a\u3051\u308c\u3070 B \u3092\u58f2\u308c\u307e\u305b\u3093\u3002\u300c\u5272\u9ad8\u306a B \u3092\u58f2\u308b\u300d\u3068\u3044\u3046\u64cd\u4f5c\u304c\u3067\u304d\u306a\u3044\u306e\u3067\u3001\u3053\u306e\u88c1\u5b9a\u306f\u69cb\u6210\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n\n\n\n

                          \u9006\u5411\u304d\u306f\u3069\u3046\u3067\u3057\u3087\u3046\u304b\u3002A \u3092\u58f2\u308a B \u3092\u8cb7\u3046\u3068 <\/span>100<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>103<\/span><\/span>=<\/span><\/span><\/span><\/span>\u2212<\/span>3<\/span><\/span><\/span><\/span><\/eq> \u3092\u652f\u51fa\u3059\u308b\u306e\u3067\u3001\u640d\u3092\u3059\u308b\u65b9\u5411\u3067\u3059\u3002\u88c1\u5b9a\u306b\u306f\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n

                          \u3064\u307e\u308a\u3001\u7a7a\u58f2\u308a\u7981\u6b62\u306f\u5272\u9ad8\u306a\u5074\u3092\u58f2\u308b\u64cd\u4f5c\u3060\u3051\u3092\u30d6\u30ed\u30c3\u30af<\/strong>\u3057\u307e\u3059\u3002\u5272\u5b89\u306a\u5074\u3092\u8cb7\u3046\u64cd\u4f5c\u306b\u306f\u5236\u7d04\u304c\u304b\u304b\u3089\u306a\u3044\u306e\u3067\u3001\u5272\u5b89\u306a A \u3092\u8cb7\u3046\u529b\u306f\u50cd\u304d\u307e\u3059\u304c\u3001A \u3092\u8cb7\u3046\u3060\u3051\u3067\u306f\u78ba\u5b9a\u5229\u76ca\u306f\u4f5c\u308c\u307e\u305b\u3093\u3002\u78ba\u5b9a\u5229\u76ca\u3092\u4f5c\u308b\u306b\u306f\u5272\u9ad8\u306a\u5074\u3092\u58f2\u308b\u5fc5\u8981\u304c\u3042\u308a\u3001\u305d\u3053\u304c\u5c01\u3058\u3089\u308c\u3066\u3044\u307e\u3059\u3002\u305f\u3060\u3057\u3001B \u3092\u3059\u3067\u306b\u4fdd\u6709\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u306a\u3089\u3001\u7a7a\u58f2\u308a\u3067\u306f\u306a\u3044\u901a\u5e38\u306e\u58f2\u308a\u3067 B \u3092 <\/span>103<\/span><\/span><\/span><\/span><\/eq> \u3067\u58f2\u3063\u3066 A \u3092 <\/span>100<\/span><\/span><\/span><\/span><\/eq> \u3067\u8cb7\u3044\u76f4\u305b\u307e\u3059\u3002\u5c06\u6765\u306e\u53d7\u3051\u53d6\u308a\u306f\u5909\u308f\u3089\u305a\u306b <\/span>3<\/span><\/span><\/span><\/span><\/eq> \u304c\u624b\u5143\u306b\u6b8b\u308b\u306e\u3067\u3001\u4fa1\u683c\u5dee\u3092\u7e2e\u3081\u308b\u529b\u306f\u3053\u3046\u3057\u305f\u4fdd\u6709\u8005\u304b\u3089\u3057\u304b\u50cd\u304d\u307e\u305b\u3093\u3002\u4fdd\u6709\u8005\u304c\u3044\u306a\u3051\u308c\u3070\u3001\u4e00\u7269\u4e00\u4fa1\u306f\u300c\u5272\u9ad8\u306a\u5074\u304c\u5272\u9ad8\u306a\u307e\u307e\u300d\u3068\u3044\u3046\u4e00\u65b9\u5411\u306b\u3060\u3051\u5d29\u308c\u3001<\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306e\u4fa1\u683c\u5dee\u304c\u6b8b\u308a\u7d9a\u3051\u3048\u307e\u3059\u3002\u3053\u306e\u5411\u304d\u306f A \u3068 B \u306e\u3069\u3061\u3089\u306e\u540d\u524d\u304b\u3067\u306f\u306a\u304f\u3001\u3069\u3061\u3089\u304c\u5272\u9ad8\u304b\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

                          \u3053\u306e\u7bc0\u306e\u307e\u3068\u3081: \u7a7a\u58f2\u308a\u7981\u6b62\u306f\u88c1\u5b9a\u306e\u7247\u5074\u3060\u3051\u3092\u5c01\u3058\u308b\u306e\u3067\u3001\u5272\u9ad8\u306a\u65b9\u5411\u306b\u3060\u3051\u4fa1\u683c\u5dee\u304c\u6b8b\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

                          CEX-NA-3: \u501f\u5165\u91d1\u5229\u3068\u8cb8\u51fa\u91d1\u5229\u306e\u5dee\u3067\u7dda\u5f62\u6027\u304c\u5d29\u308c\u308b<\/h3>\n\n\n\n

                          \u4eee\u5b9a (A3)<\/strong> \u3092\u5916\u3057\u307e\u3059\u3002\u501f\u5165\u91d1\u5229\u3092 7%\u3001\u8cb8\u51fa\u91d1\u5229\u3092 5% \u3068\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

                          \u5546\u54c1 X \u306e\u4fa1\u683c\u3092 <\/span>50<\/span><\/span><\/span><\/span><\/eq>\u3001\u5546\u54c1 Y \u306e\u4fa1\u683c\u3092 <\/span>30<\/span><\/span><\/span><\/span><\/eq> \u3068\u3057\u307e\u3059\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u548c\u306b\u7b49\u3057\u3044\u5546\u54c1 Z \u306e\u300c\u516c\u6b63\u4fa1\u683c\u300d\u306f\u3001\u91d1\u5229\u304c\u540c\u4e00\u3067\u3042\u308c\u3070 <\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>80<\/span><\/span><\/span><\/span><\/eq> \u306e\u306f\u305a\u3067\u3059\u3002<\/p>\n\n\n\n

                          \u3053\u3053\u3067 Z \u3092\u58f2\u308a X + Y \u3092\u8cb7\u3046\u88c1\u5b9a\u3092\u8003\u3048\u307e\u3059\u3002X \u3068 Y \u306e\u8cfc\u5165\u8cc7\u91d1 <\/span>80<\/span><\/span><\/span><\/span><\/eq> \u306f\u501f\u5165\u3067\u8abf\u9054\u3057\u3001Z \u306e\u58f2\u5374\u4ee3\u91d1 <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306f\u8cb8\u51fa\u306b\u56de\u3057\u307e\u3059\u3002\u6e80\u671f\u306b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u76f8\u6bba\u3059\u308b\u306e\u3067\u3001\u8cc7\u91d1\u306e\u640d\u76ca\u3060\u3051\u304c\u6b8b\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

                          <\/span>\u6e80\u671f\u306e\u5229\u76ca<\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>1.05<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>80<\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>1.07<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n

                          \u3053\u306e\u88c1\u5b9a\u304c\u6210\u7acb\u3059\u308b\u306b\u306f <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>1.05<\/span><\/span>><\/span><\/span><\/span><\/span>80<\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>1.07<\/span><\/span><\/span><\/span><\/eq> \u304c\u5fc5\u8981\u3067\u3001\u3064\u307e\u308a<\/p>\n\n\n\n

                          <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>><\/span><\/span><\/span><\/span><\/span><\/span>1.05<\/span><\/span><\/span><\/span><\/span><\/span><\/span>80<\/span><\/span>\u00d7<\/span><\/span>1.07<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>81.5238<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n

                          \u3067\u3059\u3002<\/p>\n\n\n\n

                          \u9006\u306b X + Y \u3092\u58f2\u308a Z \u3092\u8cb7\u3046\u88c1\u5b9a\u3067\u306f\u3001Z \u306e\u8cfc\u5165\u8cc7\u91d1 <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3092\u501f\u5165\u3057\u3001X + Y \u306e\u58f2\u5374\u4ee3\u91d1 <\/span>80<\/span><\/span><\/span><\/span><\/eq> \u3092\u8cb8\u51fa\u306b\u56de\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

                          <\/span>\u6e80\u671f\u306e\u5229\u76ca<\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>80<\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>1.05<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>1.07<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n

                          \u3053\u306e\u88c1\u5b9a\u304c\u6210\u7acb\u3059\u308b\u306b\u306f <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>80<\/span><\/span>\u00d7<\/span><\/span><\/span><\/span>1.05\/1.07<\/span><\/span>=<\/span><\/span><\/span><\/span>78.5047<\/span><\/span><\/span><\/span><\/eq> \u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n\n\n\n

                          \u3057\u305f\u304c\u3063\u3066\u3001\u88c1\u5b9a\u304c\u8d77\u304d\u306a\u3044 <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306e\u7bc4\u56f2\u306f<\/p>\n\n\n\n

                          <\/span>78.5047<\/span><\/span>\u2264<\/span><\/span><\/span><\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2264<\/span><\/span><\/span><\/span>81.5238<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n

                          \u3067\u3059\u3002\u5e2f\u306e\u5e45\u306f\u7d04 <\/span>3.0191<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n\n\n\n

                          \u91d1\u5229\u304c\u540c\u4e00\u3067\u3042\u308c\u3070\u3053\u306e\u5e2f\u306f1\u70b9 <\/span>80<\/span><\/span><\/span><\/span><\/eq> \u306b\u6f70\u308c\u3001\u7dda\u5f62\u6027\u304c\u6210\u308a\u7acb\u3061\u307e\u3059\u3002\u501f\u5165\u91d1\u5229\u3068\u8cb8\u51fa\u91d1\u5229\u306b\u5dee\u304c\u3042\u308b\uff08\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u3042\u308b\uff09\u3068\u3001\u5e2f\u304c\u5e83\u304c\u308a\u3001<\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\ue020<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span><\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3042\u3063\u3066\u3082\u88c1\u5b9a\u306b\u306a\u3089\u306a\u3044\u9818\u57df\u304c\u751f\u307e\u308c\u307e\u3059\u3002<\/p>\n\n\n\n

                          \u3053\u306e\u7bc0\u306e\u307e\u3068\u3081: \u501f\u5165\u3068\u8cb8\u51fa\u306e\u91d1\u5229\u5dee\u306f\u3001\u4fa1\u683c\u306e\u7dda\u5f62\u6027\u3092\u5e2f\u72b6\u306b\u7de9\u3081\u307e\u3059\u3002<\/p>\n\n\n\n

                          6. \u6570\u5024\u4f8b \u2015 \u4fa1\u683c\u5dee 2 \u304b\u3089\u78ba\u5b9a\u5229\u76ca\u3092\u53d6\u308a\u51fa\u3059<\/h2>\n\n\n\n

                          3\u3064\u306e\u5b9a\u7406\u30683\u3064\u306e\u53cd\u4f8b\u3092\u3001\u5177\u4f53\u7684\u306a\u6570\u5024\u3067\u78ba\u304b\u3081\u307e\u3059\u3002<\/p>\n\n\n\n

                          \u4e00\u7269\u4e00\u4fa1\u306e\u6570\u5024\u4f8b<\/h3>\n\n\n\n

                          \u540c\u3058\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u3080\u5546\u54c1 A \u3068\u5546\u54c1 B \u304c\u3042\u308a\u3001<\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>100<\/span><\/span><\/span><\/span><\/eq>\u3001<\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>102<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n\n\n\n

                          \u88c1\u5b9a\u306e\u624b\u9806<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
                          \u30b9\u30c6\u30c3\u30d7<\/th>\n\u64cd\u4f5c<\/th>\n\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/th>\n<\/tr>\n<\/thead>\n
                          1<\/td>\nB \u30921\u5358\u4f4d\u58f2\u308b<\/td>\n<\/span>+<\/span>102<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n
                          2<\/td>\nA \u30921\u5358\u4f4d\u8cb7\u3046<\/td>\n<\/span>\u2212<\/span>100<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n
                          3<\/td>\n\u5dee\u984d\u3092\u53d7\u3051\u53d6\u308b<\/td>\n<\/span>+<\/span>2<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n
                          \u6e80\u671f<\/td>\nA \u306e\u53d7\u53d6\u3067 B \u306e\u652f\u6255\u3044\u3092\u76f8\u6bba<\/td>\n<\/span>0<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n

                          \u6642\u523b0\u306b <\/span>2<\/span><\/span><\/span><\/span><\/eq> \u3092\u53d7\u3051\u53d6\u308a\u3001\u6e80\u671f\u306e\u640d\u76ca\u306f\u30bc\u30ed\u3067\u3059\u3002\u78ba\u5b9a\u5229\u76ca\u306f <\/span>2<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n\n\n\n

                          \u3053\u306e\u5229\u76ca\u306f\u3069\u306e\u72b6\u614b\u304c\u8d77\u304d\u3066\u3082\u5909\u308f\u308a\u307e\u305b\u3093\u3002\u300c\u682a\u304c\u4e0a\u304c\u308b\u304b\u4e0b\u304c\u308b\u304b\u300d\u306b\u4e00\u5207\u4f9d\u5b58\u3057\u306a\u3044\u3001\u7121\u30ea\u30b9\u30af\u306e\u5229\u76ca\u3067\u3059\u3002<\/p>\n\n\n\n

                          \u512a\u52a3\u306e\u4fdd\u5b58\u306e\u6570\u5024\u4f8b<\/h3>\n\n\n\n

                          \u5546\u54c1 A \u306f\u3069\u306e\u72b6\u614b\u3067\u3082\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc <\/span>110<\/span><\/span><\/span><\/span><\/eq>\u3001\u5546\u54c1 B \u306f\u3069\u306e\u72b6\u614b\u3067\u3082\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc <\/span>100<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002A \u306e\u65b9\u304c\u5e38\u306b\u5927\u304d\u3044\u306e\u3067\u3001\u7121\u88c1\u5b9a\u3067\u3042\u308c\u3070 <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u2265<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306e\u306f\u305a\u3067\u3059\u3002<\/p>\n\n\n\n

                          \u3068\u3053\u308d\u304c <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>95<\/span><\/span><\/span><\/span><\/eq>, <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>98<\/span><\/span><\/span><\/span><\/eq> \u3060\u3068\u3057\u307e\u3059\u3002<\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><<\/span><\/span><\/span><\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3001\u512a\u52a3\u306e\u4fdd\u5b58\u306b\u53cd\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n

                          \u88c1\u5b9a\u306e\u69cb\u6210<\/strong>: A \u3092\u8cb7\u3044\uff08<\/span>\u2212<\/span>95<\/span><\/span><\/span><\/span><\/eq>\uff09\u3001B \u3092\u58f2\u308a\uff08<\/span>+<\/span>98<\/span><\/span><\/span><\/span><\/eq>\uff09\u307e\u3059\u3002<\/p>\n\n\n\n

                            \n
                          • \u6642\u523b0: <\/span>98<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>95<\/span><\/span>=<\/span><\/span><\/span><\/span>3<\/span><\/span><\/span><\/span><\/eq> \u3092\u53d7\u3051\u53d6\u308a\u307e\u3059\u3002<\/li>\n
                          • \u6e80\u671f: <\/span>110<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>100<\/span><\/span>=<\/span><\/span><\/span><\/span>10<\/span><\/span><\/span><\/span><\/eq> \u3092\u53d7\u3051\u53d6\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n

                            \u6642\u523b0\u306b <\/span>3<\/span><\/span><\/span><\/span><\/eq>\u3001\u6e80\u671f\u306b\u3055\u3089\u306b <\/span>10<\/span><\/span><\/span><\/span><\/eq> \u306e\u5229\u76ca\u3067\u3059\u3002\u5143\u624b\u30bc\u30ed\u3067\u3069\u306e\u72b6\u614b\u3067\u3082\u6b63\u306e\u5229\u76ca\u304c\u51fa\u307e\u3059\u3002<\/p>\n\n\n\n

                            \u4fa1\u683c\u306e\u7dda\u5f62\u6027\u306e\u6570\u5024\u4f8b<\/h3>\n\n\n\n

                            \u5546\u54c1 X \u306e\u4fa1\u683c <\/span>50<\/span><\/span><\/span><\/span><\/eq>\u3001\u5546\u54c1 Y \u306e\u4fa1\u683c <\/span>30<\/span><\/span><\/span><\/span><\/eq>\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c X + Y \u306b\u7b49\u3057\u3044\u5546\u54c1 Z \u306e\u516c\u6b63\u4fa1\u683c\u306f <\/span>50<\/span><\/span>+<\/span><\/span><\/span><\/span>30<\/span><\/span>=<\/span><\/span><\/span><\/span>80<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n\n\n\n

                            \u3068\u3053\u308d\u304c <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>85<\/span><\/span><\/span><\/span><\/eq> \u3060\u3068\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

                            \u88c1\u5b9a\u306e\u69cb\u6210<\/strong>: Z \u3092\u58f2\u308a\uff08<\/span>+<\/span>85<\/span><\/span><\/span><\/span><\/eq>\uff09\u3001X \u3092\u8cb7\u3044\uff08<\/span>\u2212<\/span>50<\/span><\/span><\/span><\/span><\/eq>\uff09\u3001Y \u3092\u8cb7\u3044\uff08<\/span>\u2212<\/span>30<\/span><\/span><\/span><\/span><\/eq>\uff09\u307e\u3059\u3002<\/p>\n\n\n\n

                              \n
                            • \u6642\u523b0: <\/span>85<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>50<\/span><\/span>\u2212<\/span><\/span><\/span><\/span>30<\/span><\/span>=<\/span><\/span><\/span><\/span>5<\/span><\/span><\/span><\/span><\/eq> \u3092\u53d7\u3051\u53d6\u308a\u307e\u3059\u3002<\/li>\n
                            • \u6e80\u671f: Z \u306e\u652f\u6255\u3044\u7fa9\u52d9\u3092 X + Y \u306e\u53d7\u53d6\u3067\u76f8\u6bba\u3057\u307e\u3059\u3002\u640d\u76ca\u306f\u30bc\u30ed\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n

                              \u78ba\u5b9a\u5229\u76ca\u306f <\/span>5<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n\n\n\n

                              \u624b\u6570\u6599\u3067\u88c1\u5b9a\u304c\u6d88\u3048\u308b\u7bc4\u56f2<\/h3>\n\n\n\n

                              \u7247\u9053 0.5%\uff08\u5f80\u5fa9 1%\uff09\u306e\u624b\u6570\u6599\u304c\u3042\u308b\u3068\u3001<\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>100<\/span><\/span><\/span><\/span><\/eq> \u306b\u5bfe\u3057\u3066\u88c1\u5b9a\u304c\u8d77\u304d\u306a\u3044 <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306e\u7bc4\u56f2\u306f <\/span>99.0050<\/span><\/span><\/span><\/span><\/eq> \u304b\u3089 <\/span>101.0050<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u5e2f\u306e\u5e45\u306f\u7d04 <\/span>2.0001<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n\n\n\n

                              <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>101<\/span><\/span><\/span><\/span><\/eq> \u306e\u3068\u304d\u3001B \u3092\u58f2\u308a A \u3092\u8cb7\u3046\u64cd\u4f5c\u306e\u6b63\u5473\u306f<\/p>\n\n\n\n

                              <\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>101<\/span><\/span>\u00d7<\/span><\/span>0.995<\/span><\/span>\u2212<\/span><\/span>100<\/span><\/span>\u00d7<\/span><\/span>1.005<\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span>\u2212<\/span>0.005<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n

                              \u3067\u3059\u3002\u624b\u6570\u6599\u8ca0\u3051\u3057\u3066\u88c1\u5b9a\u306b\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n

                              \u7a7a\u58f2\u308a\u7981\u6b62\u3067\u6b8b\u308b\u4fa1\u683c\u5dee<\/h3>\n\n\n\n

                              <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>100<\/span><\/span><\/span><\/span><\/eq>, <\/span>P<\/span><\/span>B<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>103<\/span><\/span><\/span><\/span><\/eq>\u3002\u7a7a\u58f2\u308a\u304c\u53ef\u80fd\u306a\u3089 <\/span>3<\/span><\/span><\/span><\/span><\/eq> \u306e\u88c1\u5b9a\u5229\u76ca\u304c\u53d6\u308c\u307e\u3059\u3002\u7a7a\u58f2\u308a\u7981\u6b62\u306e\u3082\u3068\u3067\u306f\u3001B \u3092\u58f2\u308c\u306a\u3044\u306e\u3067\u88c1\u5b9a\u304c\u6210\u7acb\u3057\u307e\u305b\u3093\u3002\u5272\u9ad8\u306a B \u306e\u4fa1\u683c\u306f <\/span>P<\/span><\/span>A<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306b\u5f15\u304d\u5bc4\u305b\u3089\u308c\u308b\u3053\u3068\u306a\u304f\u3001<\/span>3<\/span><\/span><\/span><\/span><\/eq> \u306e\u5dee\u304c\u6b8b\u308a\u7d9a\u3051\u307e\u3059\u3002<\/p>\n\n\n\n

                              \u91d1\u5229\u5dee\u3067\u7dda\u5f62\u6027\u304c\u5d29\u308c\u308b\u5e45<\/h3>\n\n\n\n

                              \u501f\u5165 7%\u3001\u8cb8\u51fa 5% \u306e\u3082\u3068\u3067\u3001<\/span>P<\/span><\/span>X<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>+<\/span><\/span><\/span><\/span>P<\/span><\/span>Y<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>=<\/span><\/span><\/span><\/span>80<\/span><\/span><\/span><\/span><\/eq> \u306b\u5bfe\u3057\u3066\u88c1\u5b9a\u304c\u8d77\u304d\u306a\u3044 <\/span>P<\/span><\/span>Z<\/span><\/span><\/span><\/span>\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306e\u7bc4\u56f2\u306f <\/span>78.5047<\/span><\/span><\/span><\/span><\/eq> \u304b\u3089 <\/span>81.5238<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u5e2f\u306e\u5e45\u306f\u7d04 <\/span>3.0191<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u91d1\u5229\u304c\u540c\u4e00\u3067\u3042\u308c\u3070\u5e2f\u306f1\u70b9 <\/span>80<\/span><\/span><\/span><\/span><\/eq> \u306b\u6f70\u308c\u307e\u3059\u3002<\/p>\n\n\n\n

                              \u3053\u306e\u7bc0\u306e\u307e\u3068\u3081: 3\u3064\u306e\u5b9a\u7406\u306e\u6570\u5024\u4f8b\u3067\u88c1\u5b9a\u306e\u69cb\u6210\u3092\u78ba\u8a8d\u3057\u30013\u3064\u306e\u53cd\u4f8b\u3067\u4eee\u5b9a\u304c\u5d29\u308c\u305f\u3068\u304d\u306e\u5e2f\u306e\u5e45\u3092\u8a08\u7b97\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n

                              7. \u6b21\u56de\u3078 \u2015 \u682a\u3082\u50b5\u5238\u3082\u4fdd\u967a\u3082\u540c\u3058\u5f62\u306b\u66f8\u304d\u76f4\u3059<\/h2>\n\n\n\n

                              \u4eca\u56de\u306f\u300c\u305f\u3060\u4e57\u308a\u304c\u7121\u3044\u300d\u3068\u3044\u3046\u4e00\u3064\u306e\u516c\u7406\u304b\u3089\u3001\u4e00\u7269\u4e00\u4fa1\u3001\u512a\u52a3\u306e\u4fdd\u5b58\u3001\u4fa1\u683c\u306e\u7dda\u5f62\u6027\u3068\u3044\u30463\u3064\u306e\u5e30\u7d50\u3092\u5c0e\u304d\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3053\u306e\u8b70\u8ad6\u3067\u306f\u3001\u5546\u54c1\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u6f20\u7136\u3068\u300c\u540c\u3058\u300d\u300c\u4ee5\u4e0a\u300d\u300c\u548c\u300d\u3068\u3060\u3051\u8a00\u3063\u3066\u3044\u3066\u3001\u5177\u4f53\u7684\u306b\u3069\u3046\u66f8\u304f\u304b\u306b\u306f\u8e0f\u307f\u8fbc\u307f\u307e\u305b\u3093\u3067\u3057\u305f\u3002<\/p>\n\n\n\n

                              \u6b21\u56de\u306f\u3001\u682a\u3082\u50b5\u5238\u3082\u4fdd\u967a\u3082\u540c\u3058\u5f62\u5f0f\u3067\u8a18\u8ff0\u3067\u304d\u308b\u300c\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u300d\u3068\u3044\u3046\u5171\u901a\u8a00\u8a9e\u3092\u5c0e\u5165\u3057\u307e\u3059\u3002\u7121\u88c1\u5b9a\u306e\u516c\u7406\u306f\u305d\u306e\u5171\u901a\u8a00\u8a9e\u306e\u4e0a\u3067\u521d\u3081\u3066\u5207\u308c\u5473\u3092\u767a\u63ee\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

                              \u3053\u306e\u7bc0\u306e\u307e\u3068\u3081: \u6b21\u56de\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u7d71\u4e00\u7684\u306a\u8a18\u6cd5\u3092\u5c0e\u5165\u3057\u3001\u7121\u88c1\u5b9a\u306e\u516c\u7406\u3092\u5177\u4f53\u7684\u306b\u4f7f\u3048\u308b\u5f62\u306b\u3057\u307e\u3059\u3002<\/p>\n\n\n\n

                              \u6b21\u306e\u30de\u30a4\u30eb\u30b9\u30c8\u30fc\u30f3\u307e\u3067\u3042\u3068 14 \u672c\u3067\u3059\u3002<\/p>\n\n\n\n

                              \u3088\u304f\u3042\u308b\u8cea\u554f<\/h2>\n\n\n\n

                              \u7121\u88c1\u5b9a\u306f\u73fe\u5b9f\u306b\u6210\u308a\u7acb\u3063\u3066\u3044\u307e\u3059\u304b<\/strong><\/p>\n\n\n\n

                              \u53b3\u5bc6\u306b\u306f\u6210\u308a\u7acb\u3061\u307e\u305b\u3093\u3002\u305f\u3060\u3057\u3001\u305a\u308c\u3066\u3082\u624b\u6570\u6599\u3067\u6d88\u3048\u308b\u7a0b\u5ea6\u306b\u306f\u4fdd\u305f\u308c\u3066\u3044\u307e\u3059\u3002\u7406\u8ad6\u306f\u305d\u306e\u7bc4\u56f2\u3092\u6559\u3048\u3066\u304f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n

                              \u306a\u305c\u78ba\u7387\u3092\u4f7f\u308f\u306a\u3044\u306e\u3067\u3059\u304b<\/strong><\/p>\n\n\n\n

                              \u3053\u306e\u56de\u306e\u4e3b\u5f35\u306f\u3001\u3069\u306e\u72b6\u614b\u304c\u8d77\u304d\u3066\u3082\u640d\u3092\u3057\u306a\u3044\u3001\u3068\u3044\u3046\u5f62\u3067\u66f8\u3051\u308b\u304b\u3089\u3067\u3059\u3002\u78ba\u7387\u306e\u51fa\u756a\u306f\u5f8c\u306e\u56de\u3067\u3059\u3002<\/p>\n\n\n\n

                              \u88c1\u5b9a\u306f\u672c\u5f53\u306b\u5132\u304b\u308b\u306e\u3067\u3059\u304b<\/strong><\/p>\n\n\n\n

                              \u7406\u5c48\u306e\u3046\u3048\u3067\u306f\u78ba\u5b9f\u306b\u5132\u304b\u308a\u307e\u3059\u3002\u3060\u304b\u3089\u3053\u305d\u898b\u3064\u304b\u3063\u305f\u77ac\u9593\u306b\u6d88\u3048\u307e\u3059\u3002\u6d88\u3048\u305f\u5f8c\u306e\u4fa1\u683c\u304c\u7406\u8ad6\u4fa1\u683c\u3067\u3059\u3002<\/p>\n\n\n\n

                              \u53c2\u8003\u6587\u732e<\/h2>\n\n\n\n
                                \n\n
                              1. Pliska S. R.\u3001Introduction to Mathematical Finance \u2015 Discrete Time Models\u3001Blackwell\u30011997\u5e74<\/li>\n\n\n
                              2. Hull J. C.\u3001Options Futures and Other Derivatives\u3001\u7b2c11\u7248\u3001Pearson\u30012021\u5e74<\/li>\n\n<\/ol>\n\n\n\n
                                \n\n\n\n

                                \u6570\u5024\u4f8b\u306f compute.py<\/code> \u306b\u3088\u308a\u6709\u7406\u6570\u6f14\u7b97\u3067\u691c\u7b97\u6e08\u307f\u3002\u672c\u6587\u4e2d\u306e\u5c0f\u6570\u306f4\u6841\u3067\u4e38\u3081\u3066\u3044\u308b\u3002<\/em><\/p>\n\n","protected":false},"excerpt":{"rendered":"

                                \u4f4d\u7f6e: \u7b2c1\u90e8 \u7b2c2\u56de \/ \u524d\u63d0: \u7b2c1\u56de \/ \u6570\u5b66\u7de8: \u306a\u3057 \/ \u3053\u306e\u56de\u3067\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3053\u3068: \u540c\u3058\u652f\u6255\u3044\u3092\u751f\u30802\u3064\u306e\u5546\u54c1\u306b\u4fa1\u683c\u5dee\u304c\u3042\u308b\u3068\u304d\u3001\u5143\u624b\u306a\u3057\u3067\u5229\u76ca\u3092\u78ba\u5b9a\u3055\u305b\u308b\u53d6\u5f15\u3092\u7d44\u307f\u7acb\u3066\u308b\u3053\u3068\u304c\u3067\u304d\u308b 0. \u7269\u8a9e \u2015 \u624b […]<\/p>\n","protected":false},"author":1,"featured_media":209095,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"swell_btn_cv_data":"","footnotes":""},"categories":[159],"tags":[161],"class_list":["post-208182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-engineering","tag-fe-part1-rates"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t