{"id":208414,"date":"2026-10-09T18:50:00","date_gmt":"2026-10-09T09:50:00","guid":{"rendered":"https:\/\/ichizenholdings.co.jp\/media\/?p=208414"},"modified":"2026-09-25T19:37:55","modified_gmt":"2026-09-25T10:37:55","slug":"default-and-credit-spread","status":"publish","type":"post","link":"https:\/\/ichizenholdings.co.jp\/media\/trading\/financial-engineering\/default-and-credit-spread\/","title":{"rendered":"\u7b2c94\u56de \u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3068\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9 \u2015 \u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u3067\u8003\u3048\u308b"},"content":{"rendered":"\n<blockquote class=\"is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u4f4d\u7f6e: \u7b2c9\u90e8 \u7b2c94\u56de \/ \u524d\u63d0: \u7b2c4\u56de\u3001\u7b2c9\u56de\u3001\u7b2c93\u56de \/ \u6570\u5b66\u7de8: \u306a\u3057 \/ \u3053\u306e\u56de\u3067\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3053\u3068: \u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u4fa1\u683c\u306b\u7e54\u308a\u8fbc\u307e\u308c\u305f\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3092\u8a08\u7b97\u3057\u3001\u5b9f\u969b\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u7387\u3068\u306e\u9055\u3044\u3092\u8aac\u660e\u3067\u304d\u308b<\/p>\n<\/blockquote>\n\n\n\n<h2 class=\"wp-block-heading\">0. \u7269\u8a9e \u2015 \u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u51fa\u3057\u305f\u78ba\u7387\u306f\u5b9f\u969b\u306e\u78ba\u7387\u3067\u306f\u306a\u3044<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u524d\u306e\u56de\u3067\u3001\u30b9\u30ef\u30c3\u30d7\u306e\u8a55\u4fa1\u306b\u306f\u30ab\u30fc\u30d6\u306e\u4f7f\u3044\u5206\u3051\u304c\u5fc5\u8981\u3060\u3068\u898b\u307e\u3057\u305f\u3002\u540c\u3058\u300c\u91d1\u5229\u306e\u4e16\u754c\u300d\u3092\u3001\u4eca\u5ea6\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u9762\u304b\u3089\u773a\u3081\u3066\u307f\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u793e\u50b5\u306b\u306f\u56fd\u50b5\u3088\u308a\u9ad8\u3044\u5229\u56de\u308a\u304c\u4ed8\u3044\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u4e0a\u4e57\u305b\u5206\u304c\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u3067\u3001\u3053\u3053\u304b\u3089\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u78ba\u7387\u3092\u9006\u7b97\u3067\u304d\u307e\u3059\u3002\u30b9\u30d7\u30ec\u30c3\u30c9\u304c150\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u306e\u793e\u50b5\u306b\u3064\u3044\u3066\u3001\u56de\u53ce\u7387\u30924\u5272\u3068\u4eee\u5b9a\u3057\u3066\u8a08\u7b97\u3059\u308b\u3068\u30015\u5e74\u9593\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u78ba\u7387\u306f\u7d0412\u30d1\u30fc\u30bb\u30f3\u30c8\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3068\u3053\u308d\u304c\u3001\u540c\u3058\u683c\u4ed8\u3051\u306e\u793e\u50b5\u304c\u904e\u53bb\u306b\u5b9f\u969b\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u305f\u5272\u5408\u3092\u8abf\u3079\u308b\u3068\u30015\u5e74\u3067\u7d041.5\u30d1\u30fc\u30bb\u30f3\u30c8\u306b\u3059\u304e\u307e\u305b\u3093\u3002\u5e02\u5834\u304c\u793a\u3059\u6570\u5b57\u306f\u3001\u5b9f\u7e3e\u306e\u7d048\u500d\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5e02\u5834\u304c\u9593\u9055\u3063\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u6295\u8cc7\u5bb6\u306f\u300c\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u300d\u3068\u3044\u3046\u30ea\u30b9\u30af\u3092\u62b1\u3048\u308b\u3053\u3068\u81ea\u4f53\u306b\u5831\u916c\u3092\u6c42\u3081\u307e\u3059\u3002\u5b89\u304f\u8cb7\u308f\u306a\u3051\u308c\u3070\u5f15\u304d\u5408\u308f\u306a\u3044\u306e\u3067\u3001\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u5e83\u304c\u308a\u3001\u9006\u7b97\u3055\u308c\u308b\u78ba\u7387\u3082\u81a8\u3089\u307f\u307e\u3059\u3002\u5dee\u306e\u7d0410\u30d1\u30fc\u30bb\u30f3\u30c8\u30dd\u30a4\u30f3\u30c8\u306f\u3001\u30ea\u30b9\u30af\u305d\u306e\u3082\u306e\u3078\u306e\u4e0a\u4e57\u305b\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3082\u3046\u4e00\u3064\u898b\u843d\u3068\u3057\u3084\u3059\u3044\u306e\u306f\u56de\u53ce\u7387\u306e\u4eee\u5b9a\u3067\u3059\u3002\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u3066\u30824\u5272\u304c\u8fd4\u3063\u3066\u304f\u308b\u4e16\u754c\u3068\u3001\u5168\u984d\u304c\u5931\u308f\u308c\u308b\u4e16\u754c\u3067\u306f\u3001\u540c\u3058\u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u51fa\u3066\u304f\u308b\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u983b\u5ea6\u304c\u307e\u308b\u3067\u9055\u3044\u307e\u3059\u3002\u56de\u53ce\u7387\u3092\u793a\u3055\u305a\u306b\u300c\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u306f\u4f55\u30d1\u30fc\u30bb\u30f3\u30c8\u300d\u3068\u8a00\u3063\u3066\u3082\u3001\u6570\u5b57\u3068\u3057\u3066\u610f\u5473\u3092\u6301\u3061\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eca\u56de\u306f\u3001\u30b9\u30d7\u30ec\u30c3\u30c9\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3092\u3064\u306a\u3050\u5f0f\u3092\u8a3c\u660e\u3057\u3001\u5e02\u5834\u304b\u3089\u8aad\u307f\u53d6\u308c\u308b\u78ba\u7387\u304c\u306a\u305c\u5b9f\u7e3e\u3068\u98df\u3044\u9055\u3046\u306e\u304b\u3092\u660e\u3089\u304b\u306b\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. \u52d5\u6a5f \u2015 \u6255\u308f\u308c\u306a\u3044\u304b\u3082\u3057\u308c\u306a\u3044\u50b5\u5238\u306e\u5024\u6bb5<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u56de\u3092\u8aad\u307f\u7d42\u3048\u308b\u3068\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u4fa1\u683c\u306b\u7e54\u308a\u8fbc\u307e\u308c\u305f\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3092\u8a08\u7b97\u3057\u3001\u5b9f\u969b\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u7387\u3068\u306e\u9055\u3044\u3092\u8aac\u660e\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u50b5\u5238\u306f\u300c\u6e80\u671f\u306b\u5143\u672c\u304c\u8fd4\u3063\u3066\u304f\u308b\u7d04\u675f\u300d\u3067\u3059\u3002\u3057\u304b\u3057\u7d04\u675f\u304c\u5b88\u3089\u308c\u306a\u3044\u53ef\u80fd\u6027\u3001\u3059\u306a\u308f\u3061\u30c7\u30d5\u30a9\u30eb\u30c8\u304c\u3042\u308b\u3068\u3001\u50b5\u5238\u306e\u5024\u6bb5\u306f\u305d\u306e\u5206\u3060\u3051\u4e0b\u304c\u308a\u307e\u3059\u3002\u4e0b\u304c\u3063\u305f\u5206\u304c\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u5e02\u5834\u3067\u6bce\u65e5\u89b3\u6e2c\u3055\u308c\u307e\u3059\u304c\u3001\u3053\u306e\u6570\u5b57\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u78ba\u7387\u3068\u3069\u3046\u7d50\u3073\u3064\u3044\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u76f4\u611f\u7684\u306b\u306f\u300c\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u305d\u3046\u306a\u50b5\u5238\u307b\u3069\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u5927\u304d\u3044\u300d\u3067\u3059\u304c\u3001\u305d\u308c\u3092\u5b9a\u91cf\u7684\u306b\u3059\u308b\u306b\u306f\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u78ba\u7387\u30e2\u30c7\u30eb\u3068\u3057\u3066\u6271\u3046\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eca\u56de\u306f\u305d\u306e\u6700\u3082\u57fa\u672c\u7684\u306a\u67a0\u7d44\u307f\u3092\u5c0e\u5165\u3057\u307e\u3059\u3002\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u300c\u30e9\u30f3\u30c0\u30e0\u306a\u6642\u523b\u306b\u8d77\u304d\u308b\u4e8b\u8c61\u300d\u3068\u3057\u3066\u30e2\u30c7\u30eb\u5316\u3057\u3001\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u3068\u3044\u30461\u3064\u306e\u30d1\u30e9\u30e1\u30fc\u30bf\u304b\u3089\u751f\u5b58\u78ba\u7387\u3092\u5c0e\u304d\u307e\u3059\u3002\u305d\u3057\u3066\u30b9\u30d7\u30ec\u30c3\u30c9\u3068\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u306e\u95a2\u4fc2\u3092\u53b3\u5bc6\u306b\u66f8\u304d\u4e0b\u3057\u3001\u8fd1\u4f3c\u516c\u5f0f\u3092\u8a3c\u660e\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u3053\u306e\u8a18\u4e8b\u3067\u8a3c\u660e\u3059\u308b\u3053\u3068<\/h3>\n\n\n\n<ul>\n<li><strong>THM-DF2-1<\/strong> \u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u304c\u4e00\u5b9a\u306e\u3068\u304d\u3001\u6642\u70b9 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u307e\u3067\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u306a\u3044\u78ba\u7387\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8491em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8491em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\">t<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u66f8\u3051\u307e\u3059\u3002<\/li>\n<li><strong>THM-DF2-2<\/strong> \u56de\u53ce\u7387\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u3068\u3059\u308b\u3068\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u304a\u304a\u3088\u305d <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq> \u306b\u7b49\u3057\u304f\u306a\u308a\u307e\u3059\u3002<\/li>\n<li><strong>THM-DF2-3<\/strong> \u5e02\u5834\u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u9006\u7b97\u3057\u305f\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u306f\u30ea\u30b9\u30af\u4e2d\u7acb\u6e2c\u5ea6\u306e\u3082\u3068\u3067\u306e\u5024\u3067\u3042\u308a\u3001\u904e\u53bb\u306e\u5b9f\u7e3e\u30c7\u30d5\u30a9\u30eb\u30c8\u7387\u3088\u308a\u5927\u304d\u304f\u306a\u308b\u306e\u304c\u666e\u901a\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">2. \u8a2d\u5b9a\u3068\u4eee\u5b9a \u2015 \u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u78ba\u7387\u7684\u306a\u6642\u523b\u3068\u3057\u3066\u7f6e\u304f<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u6271\u3046\u305f\u3081\u306b\u3001\u6b21\u306e\u4eee\u5b9a\u3092\u7f6e\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n\n<li>\u30c7\u30d5\u30a9\u30eb\u30c8\u306f\u30dd\u30a2\u30bd\u30f3\u904e\u7a0b\u306e\u6700\u521d\u306e\u30b8\u30e3\u30f3\u30d7\u3068\u3057\u3066\u8d77\u304d\u308b<\/li>\n\n\n<li>\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u3068\u56de\u53ce\u7387\u306f\u4e00\u5b9a<\/li>\n\n\n<li>\u91d1\u5229\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u306f\u72ec\u7acb<\/li>\n\n\n<li>\u6570\u5024\u306b\u5358\u4f4d\u306f\u4ed8\u3051\u306a\u3044<\/li>\n\n<\/ul>\n\n\n\n<p>\u5177\u4f53\u7684\u306b\u8a00\u3048\u3070\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u523b\u3092\u78ba\u7387\u5909\u6570 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><\/span><\/span><\/span><\/eq> \u3068\u66f8\u304d\u307e\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><\/span><\/span><\/span><\/eq> \u306f\u6b21\u306e\u6027\u8cea\u3092\u6301\u3061\u307e\u3059\u3002\u6642\u523b <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u307e\u3067\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u3066\u3044\u306a\u3044\u3001\u3064\u307e\u308a <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.5782em;vertical-align:-0.0391em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u3068\u3044\u3046\u6761\u4ef6\u306e\u3082\u3068\u3067\u3001\u6b21\u306e\u5fae\u5c0f\u6642\u9593 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u6761\u4ef6\u4ed8\u304d\u78ba\u7387\u304c<\/p>\n\n\n\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathbb\">P<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2264<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6984em;vertical-align:-0.0833em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2223<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.5782em;vertical-align:-0.0391em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><span class=\"katex-tag\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord text\"><span class=\"mord\">(<\/span><span class=\"mord\"><span class=\"mord\">1.1<\/span><\/span><span class=\"mord\">)<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n<p>\u3092\u6e80\u305f\u3057\u307e\u3059\u3002\u3053\u306e <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u3092<strong>\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8<\/strong>\uff08\u77ac\u9593\u30c7\u30d5\u30a9\u30eb\u30c8\u7387\uff09\u3068\u547c\u3073\u307e\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u304c\u4e00\u5b9a\u3067\u3042\u308b\u3068\u306f\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u3057\u3084\u3059\u3055\u304c\u6642\u9593\u306b\u3088\u3089\u306a\u3044\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p><strong>\u751f\u5b58\u78ba\u7387<\/strong>\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathbb\">P<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq> \u3068\u66f8\u304d\u307e\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">0<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">1<\/span><\/span><\/span><\/span><\/eq>\uff08\u6642\u523b0\u306b\u306f\u307e\u3060\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u3066\u3044\u306a\u3044\uff09\u3067\u3059\u3002<\/p>\n\n\n\n<p><strong>\u56de\u53ce\u7387<\/strong> <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u306f\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u304c\u8d77\u304d\u305f\u3068\u304d\u306b\u5143\u672c\u306e\u3046\u3061\u623b\u3063\u3066\u304f\u308b\u5272\u5408\u3067\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.40<\/span><\/span><\/span><\/span><\/eq> \u306a\u3089\u3001\u984d\u97621\u306e\u50b5\u5238\u306f \u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u306b <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.40<\/span><\/span><\/span><\/span><\/eq> \u3060\u3051\u56de\u53ce\u3055\u308c\u307e\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7278em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u3092<strong>\u640d\u5931\u7387<\/strong>\u3068\u547c\u3073\u307e\u3059\u3002<\/p>\n\n\n\n<p><strong>\u7121\u30ea\u30b9\u30af\u91d1\u5229<\/strong> <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0278em;\">r<\/span><\/span><\/span><\/span><\/eq> \u306f\u9023\u7d9a\u8907\u5229\u3067\u3001\u5272\u5f15\u4fc2\u6570\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0278em;\">D<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">0<\/span><span class=\"mpunct\">,<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8413em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8413em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3068\u66f8\u304d\u307e\u3059\u3002\u91d1\u5229\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u304c\u72ec\u7acb\u3067\u3042\u308b\u3068\u3044\u3046\u4eee\u5b9a\u306f\u3001\u5272\u5f15\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3092\u5225\u3005\u306b\u8a08\u7b97\u3057\u3066\u3088\u3044\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. \u4e3b\u5f35 \u2015 \u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u30cf\u30b6\u30fc\u30c9\u3068\u640d\u5931\u7387\u306e\u7a4d<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">3\u3064\u306e\u5b9a\u7406\u3092\u6b63\u78ba\u306b\u8ff0\u3079\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote>\n<p><strong>\u5b9a\u7406 THM-DF2-1\uff08\u751f\u5b58\u78ba\u7387\u3068\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\uff09<\/strong>\n\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u304c\u4e00\u5b9a\u306e\u3068\u304d\u3001\u6642\u70b9 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u307e\u3067\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u306a\u3044\u78ba\u7387\u306f<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8991em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\">t<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section><p>\u3067\u3042\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<blockquote>\n<p><strong>\u5b9a\u7406 THM-DF2-2\uff08\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u8fd1\u4f3c\uff09<\/strong>\n\u984d\u97621\u306e\u30bc\u30ed\u30af\u30fc\u30dd\u30f3\u50b5\u306b\u3064\u3044\u3066\u3001\u56de\u53ce\u7387\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq>\u3001\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq>\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\uff08\u9023\u7d9a\u8907\u5229\uff09\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><\/span><\/span><\/span><\/eq> \u3068\u3059\u308b\u3068\u3001<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.0074em;vertical-align:-0.686em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.3214em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\">1<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.686em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2491em;vertical-align:-0.35em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><span class=\"katex-tag\"><span class=\"katex-strut\" style=\"height:2.0074em;vertical-align:-0.686em;\"><\/span><span class=\"mord text\"><span class=\"mord\">(<\/span><span class=\"mord\"><span class=\"mord\">2.1<\/span><\/span><span class=\"mord\">)<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section><p>\u3067\u3042\u308b\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq> \u304c\u5341\u5206\u5c0f\u3055\u3044\u3068\u304d\u3001<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4831em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><\/span><span class=\"katex-tag\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord text\"><span class=\"mord\">(<\/span><span class=\"mord\"><span class=\"mord\">2.2<\/span><\/span><span class=\"mord\">)<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section><p>\u304c\u6210\u308a\u7acb\u3064\u3002<\/p>\n<\/blockquote>\n\n\n\n<blockquote>\n<p><strong>\u5b9a\u7406 THM-DF2-3\uff08\u30ea\u30b9\u30af\u4e2d\u7acb\u306e\u751f\u5b58\u78ba\u7387\uff09<\/strong>\n\u5e02\u5834\u3067\u89b3\u6e2c\u3055\u308c\u308b\u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089 (2.1) \u3067\u9006\u7b97\u3057\u305f\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8452em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8452em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306f\u30ea\u30b9\u30af\u4e2d\u7acb\u6e2c\u5ea6 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8556em;vertical-align:-0.1667em;\"><\/span><span class=\"mord mathbb\">Q<\/span><\/span><\/span><\/span><\/eq> \u306e\u3082\u3068\u3067\u306e\u5024\u3067\u3042\u308b\u3002\u904e\u53bb\u306e\u5b9f\u7e3e\u304b\u3089\u63a8\u5b9a\u3057\u305f\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8452em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8452em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">P<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u306b\u5bfe\u3057\u3066\u3001\u4e00\u822c\u306b<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.9343em;vertical-align:-0.0391em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8952em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8952em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8952em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">P<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section><p>\u304c\u6210\u308a\u7acb\u3064\u3002\u5dee\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u306b\u5bfe\u3059\u308b\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0\u3067\u3042\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<details class=\"finmath-proof\"><summary>\u8a3c\u660e\u3092\u8aad\u3080\uff08\u8aad\u307e\u306a\u304f\u3066\u3082\u8a18\u4e8b\u306f\u5b8c\u7d50\u3057\u307e\u3059\uff09<\/summary>\n<h2>4. \u8a3c\u660e \u2015 \u751f\u5b58\u78ba\u7387\u3067\u5272\u5f15\u3044\u3066\u4fa1\u683c\u3092\u66f8\u304f<\/h2>\n<p>\u3053\u306e\u7bc0\u306f\u8aad\u307e\u306a\u304f\u3066\u3082\u8a18\u4e8b\u306f\u5b8c\u7d50\u3057\u307e\u3059\u3002<\/p>\n<h3>THM-DF2-1 \u306e\u8a3c\u660e<\/h3>\n<p>\u751f\u5b58\u78ba\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathbb\">P<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq> \u306e\u5fae\u5c0f\u5909\u5316\u3092\u8003\u3048\u307e\u3059\u3002\u6642\u523b <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u304b\u3089 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6984em;vertical-align:-0.0833em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u307e\u3067\u306e\u9593\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u78ba\u7387\u306f\u3001(1.1) \u3088\u308a<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathbb\">P<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2264<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6984em;vertical-align:-0.0833em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2223<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.5782em;vertical-align:-0.0391em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u3067\u3059\u3002\u6761\u4ef6\u4ed8\u304d\u78ba\u7387\u306e\u5b9a\u7fa9\u306b\u623b\u3059\u3068\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.5782em;vertical-align:-0.0391em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u304b\u3064 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7719em;vertical-align:-0.136em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2264<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6984em;vertical-align:-0.0833em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u3068\u306a\u308b\u78ba\u7387\u306f<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:4.2em;vertical-align:-1.85em;\"><\/span><span class=\"mord\"><span class=\"mtable\"><span class=\"col-align-r\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:2.35em;\"><span style=\"top:-4.35em;\"><span class=\"pstrut\" style=\"height:2.84em;\"><\/span><span class=\"mord\"><\/span><\/span><span style=\"top:-2.85em;\"><span class=\"pstrut\" style=\"height:2.84em;\"><\/span><span class=\"mord\"><\/span><\/span><span style=\"top:-1.35em;\"><span class=\"pstrut\" style=\"height:2.84em;\"><\/span><span class=\"mord\"><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.85em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"col-align-l\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:2.35em;\"><span style=\"top:-4.51em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mord mathbb\">P<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&lt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2264<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><span style=\"top:-3.01em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathbb\">P<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2264<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2223<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u22c5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathbb\">P<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1132em;\">\u03c4<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><span style=\"top:-1.51em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u22c5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.85em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u3067\u3059\u3002\u4e00\u65b9\u3001\u751f\u5b58\u78ba\u7387\u306e\u6e1b\u5c11\u5206\u306f\u3001\u3053\u306e\u533a\u9593\u3067\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u305f\u5206\u306b\u7b49\u3057\u3044\u306e\u3067<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u22c5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u304c\u6210\u308a\u7acb\u3061\u307e\u3059\u3002\u79fb\u9805\u3057\u3066 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u3067\u5272\u308b\u3068\u3001\u751f\u5b58\u78ba\u7387\u306e\u5fae\u5206\u65b9\u7a0b\u5f0f\u304c\u5f97\u3089\u308c\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.0574em;vertical-align:-0.686em;\"><\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.3714em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">Q<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.686em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><span class=\"katex-tag\"><span class=\"katex-strut\" style=\"height:2.0574em;vertical-align:-0.686em;\"><\/span><span class=\"mord text\"><span class=\"mord\">(<\/span><span class=\"mord\"><span class=\"mord\">3.1<\/span><\/span><span class=\"mord\">)<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u3053\u308c\u306f\u5b9a\u6570\u4fc2\u6570\u306e1\u968e\u7dda\u5f62\u5e38\u5fae\u5206\u65b9\u7a0b\u5f0f\u3067\u3059\u3002\u521d\u671f\u6761\u4ef6 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">0<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">1<\/span><\/span><\/span><\/span><\/eq> \u306e\u3082\u3068\u3067\u89e3\u304f\u305f\u3081\u306b\u3001\u4e21\u8fba\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq> \u3067\u5272\u308a\u307e\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0<\/span><\/span><\/span><\/span><\/eq>\uff08\u307e\u3060\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u3066\u3044\u306a\u3044\u78ba\u7387\u306f\u6b63\uff09\u306a\u306e\u3067\u5272\u308c\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.3074em;vertical-align:-0.936em;\"><\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.3214em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\">1<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.936em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.3714em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">Q<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.686em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7778em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u5de6\u8fba\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.0574em;vertical-align:-0.686em;\"><\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.3714em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathrm\">d<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathrm\">d<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.686em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u4e21\u8fba\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0<\/span><\/span><\/span><\/span><\/eq> \u304b\u3089 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq> \u307e\u3067\u7a4d\u5206\u3057\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">0<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7778em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">0<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">1<\/span><\/span><\/span><\/span><\/eq> \u306a\u306e\u3067 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">0<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002\u3057\u305f\u304c\u3063\u3066<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7778em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u4e21\u8fba\u306e\u6307\u6570\u3092\u53d6\u308b\u3068<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8991em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\">t<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u304c\u5f97\u3089\u308c\u307e\u3059\u3002\u3053\u308c\u306f\u6307\u6570\u5206\u5e03\u306e\u751f\u5b58\u95a2\u6570\u305d\u306e\u3082\u306e\u3067\u3059\u3002\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u304c\u4e00\u5b9a\u3067\u3042\u308b\u3053\u3068\u3068\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u523b\u304c\u6307\u6570\u5206\u5e03\u306b\u5f93\u3046\u3053\u3068\u306f\u540c\u5024\u3067\u3059\u3002 \u220e<\/p>\n<h3>THM-DF2-2 \u306e\u8a3c\u660e<\/h3>\n<p>\u984d\u97621\u306e\u30bc\u30ed\u30af\u30fc\u30dd\u30f3\u50b5\u3092\u8003\u3048\u307e\u3059\u3002\u6e80\u671f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq> \u306b\u4ee5\u4e0b\u304c\u8d77\u304d\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u306a\u3044\uff08\u78ba\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8491em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8491em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq>\uff09: \u984d\u97621\u3092\u53d7\u3051\u53d6\u308b<\/li>\n<li>\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\uff08\u78ba\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7278em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8491em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8491em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq>\uff09: \u56de\u53ce\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u306b\u76f8\u5f53\u3059\u308b <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u3092\u53d7\u3051\u53d6\u308b<\/li>\n<\/ul>\n<p>\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u6642\u523b\u306f\u4e00\u69d8\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u3053\u3053\u3067\u306f\u7c21\u5358\u306e\u305f\u3081\u3001\u56de\u53ce\u984d\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u523b\u306b\u3088\u3089\u305a\u6e80\u671f\u306b <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u3068\u3057\u3066\u53d7\u3051\u53d6\u308b\u30e2\u30c7\u30eb\u3092\u4f7f\u3044\u307e\u3059\u3002\u91d1\u5229\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u72ec\u7acb\u6027\u3092\u4f7f\u3063\u3066\u3001\u30ea\u30b9\u30af\u4ed8\u304d\u50b5\u5238\u4fa1\u683c\u3092\u66f8\u304d\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:5.8382em;vertical-align:-2.6691em;\"><\/span><span class=\"mord\"><span class=\"mtable\"><span class=\"col-align-r\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:3.1691em;\"><span style=\"top:-5.3191em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">P<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.3361em;\"><span style=\"top:-2.55em;margin-left:-0.1389em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord text mtight\"><span class=\"mord mtight\">risky<\/span><\/span><\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.2861em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"top:-3.8091em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><\/span><\/span><span style=\"top:-2.25em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><\/span><\/span><span style=\"top:-0.6909em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:2.6691em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"col-align-l\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:3.1691em;\"><span style=\"top:-5.3191em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0278em;\">D<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">0<\/span><span class=\"mpunct\">,<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u22c5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord\">1<\/span><\/span><\/span><span style=\"top:-3.8091em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:2em;\"><\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\">))<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u22c5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><\/span><span style=\"top:-2.25em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8913em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose\">)<\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><\/span><span style=\"top:-0.6909em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8913em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:2.6691em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"katex-tag\"><span class=\"katex-strut\" style=\"height:5.8382em;vertical-align:-2.6691em;\"><\/span><span class=\"mord text\"><span class=\"mord\">(<\/span><span class=\"mord\"><span class=\"mord\">3.2<\/span><\/span><span class=\"mord\">)<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u7b2c1\u884c\u304b\u3089\u7b2c2\u884c\u3078\u306e\u5909\u5f62\u3067\u3001\u5272\u5f15\u4fc2\u6570 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0278em;\">D<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">0<\/span><span class=\"mpunct\">,<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8413em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8413em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3068\u751f\u5b58\u78ba\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8491em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8491em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq>\uff08THM-DF2-1\uff09\u3092\u4ee3\u5165\u3057\u3066\u3044\u307e\u3059\u3002\u7b2c2\u884c\u304b\u3089\u7b2c3\u884c\u3067\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u3067\u307e\u3068\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u4e00\u65b9\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><\/span><\/span><\/span><\/eq> \u306f\u3001\u30ea\u30b9\u30af\u4ed8\u304d\u50b5\u5238\u306e\u5229\u56de\u308a\u3068\u7121\u30ea\u30b9\u30af\u91d1\u5229\u306e\u5dee\u3068\u3057\u3066\u5b9a\u7fa9\u3055\u308c\u307e\u3059\u3002\u9023\u7d9a\u8907\u5229\u3067\u306f<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.9694em;vertical-align:-0.2861em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">P<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.3361em;\"><span style=\"top:-2.55em;margin-left:-0.1389em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord text mtight\"><span class=\"mord mtight\">risky<\/span><\/span><\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.2861em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.938em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.938em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mopen mtight\">(<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mbin mtight\">+<\/span><span class=\"mord mathnormal mtight\">s<\/span><span class=\"mclose mtight\">)<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"katex-tag\"><span class=\"katex-strut\" style=\"height:1.2241em;vertical-align:-0.2861em;\"><\/span><span class=\"mord text\"><span class=\"mord\">(<\/span><span class=\"mord\"><span class=\"mord\">3.3<\/span><\/span><span class=\"mord\">)<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u3067\u3059\u3002(3.2) \u3068 (3.3) \u3092\u7b49\u7f6e\u3059\u308b\u3068<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.938em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.938em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mopen mtight\">(<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mbin mtight\">+<\/span><span class=\"mord mathnormal mtight\">s<\/span><span class=\"mclose mtight\">)<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2413em;vertical-align:-0.35em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8913em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2491em;vertical-align:-0.35em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u4e21\u8fba\u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8413em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8413em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u5272\u308a\u3001\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u7121\u30ea\u30b9\u30af\u91d1\u5229\u304b\u3089\u5206\u96e2\u3057\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8913em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8913em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">s<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7667em;vertical-align:-0.0833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.1491em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u4e21\u8fba\u306e\u5bfe\u6570\u3092\u53d6\u308a\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7667em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2em;vertical-align:-0.35em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2491em;vertical-align:-0.35em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7667em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq> \u3067\u5272\u308b\u3068 (2.1) \u304c\u5f97\u3089\u308c\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.0074em;vertical-align:-0.686em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.3214em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\">1<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.686em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2491em;vertical-align:-0.35em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p><strong>\u8fd1\u4f3c\u306e\u5c0e\u51fa\u3002<\/strong> <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq> \u304c\u5c0f\u3055\u3044\u3068\u304d\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8491em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8491em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7278em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq> \u3068\u3057\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.7em;vertical-align:-1.1em;\"><\/span><span class=\"mord\"><span class=\"mtable\"><span class=\"col-align-r\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.6em;\"><span style=\"top:-3.6em;\"><span class=\"pstrut\" style=\"height:2.84em;\"><\/span><span class=\"mord\"><\/span><\/span><span style=\"top:-2.1em;\"><span class=\"pstrut\" style=\"height:2.84em;\"><\/span><span class=\"mord\"><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.1em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"col-align-l\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.6em;\"><span style=\"top:-3.76em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\">)<\/span><\/span><\/span><span style=\"top:-2.26em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.1em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq> \u304c\u5c0f\u3055\u3044\u3068\u304d\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">x<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6667em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord mathnormal\">x<\/span><\/span><\/span><\/span><\/eq> \u3092\u4f7f\u3044\u307e\u3059\u3002<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2em;vertical-align:-0.35em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2em;vertical-align:-0.35em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u3057\u305f\u304c\u3063\u3066<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4831em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.0074em;vertical-align:-0.686em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.3214em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\">1<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.686em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u22c5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2em;vertical-align:-0.35em;\"><\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord\">\u2212<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2em;vertical-align:-0.35em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u3053\u308c\u304c (2.2) \u3067\u3059\u3002\u8fd1\u4f3c\u7cbe\u5ea6\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq> \u304c\u5c0f\u3055\u3044\u307b\u3069\u826f\u304f\u306a\u308a\u307e\u3059\u3002 \u220e<\/p>\n<h3>THM-DF2-3 \u306e\u8a3c\u660e<\/h3>\n<p>\u5e02\u5834\u3067\u89b3\u6e2c\u3055\u308c\u308b\u793e\u50b5\u4fa1\u683c\u304b\u3089 (2.1) \u3092\u4f7f\u3063\u3066\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u3092\u9006\u7b97\u3059\u308b\u624b\u9806\u3092\u78ba\u8a8d\u3057\u307e\u3059\u3002\u30ea\u30b9\u30af\u4ed8\u304d\u50b5\u5238\u4fa1\u683c\u304c <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.9694em;vertical-align:-0.2861em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">P<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.3361em;\"><span style=\"top:-2.55em;margin-left:-0.1389em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord text mtight\"><span class=\"mord mtight\">risky<\/span><\/span><\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.2861em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3068\u3057\u3066\u89b3\u6e2c\u3055\u308c\u3066\u3044\u308b\u3068\u304d\u3001(3.3) \u304b\u3089\u30b9\u30d7\u30ec\u30c3\u30c9 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><\/span><\/span><\/span><\/eq> \u3092\u6c42\u3081\u3001(2.1) \u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u306b\u3064\u3044\u3066\u89e3\u304d\u307e\u3059\u3002<\/p>\n<p>(2.1) \u306e <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8413em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8413em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">s<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7667em;vertical-align:-0.0833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.0991em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8491em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3092\u5909\u5f62\u3059\u308b\u3068<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8991em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.2877em;vertical-align:-0.7693em;\"><\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.5183em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8413em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">s<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.7693em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u4e21\u8fba\u306e\u5bfe\u6570\u3092\u53d6\u3063\u3066 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7667em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq> \u3067\u5272\u308b\u3068<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.2877em;vertical-align:-0.7693em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.3214em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\">1<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.686em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.5183em;\"><span style=\"top:-2.314em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.677em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8413em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">s<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.7693em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><\/span><span class=\"katex-tag\"><span class=\"katex-strut\" style=\"height:2.2877em;vertical-align:-0.7693em;\"><\/span><span class=\"mord text\"><span class=\"mord\">(<\/span><span class=\"mord\"><span class=\"mord\">3.4<\/span><\/span><span class=\"mord\">)<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u304c\u5f97\u3089\u308c\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u306f\u5e02\u5834\u4fa1\u683c\u304b\u3089\u9006\u7b97\u3057\u305f\u5024\u3067\u3059\u3002\u5e02\u5834\u4fa1\u683c\u306f\u30ea\u30b9\u30af\u4e2d\u7acb\u6e2c\u5ea6 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8556em;vertical-align:-0.1667em;\"><\/span><span class=\"mord mathbb\">Q<\/span><\/span><\/span><\/span><\/eq> \u306e\u3082\u3068\u3067\u306e\u671f\u5f85\u5024\u3067\u6c7a\u307e\u308b\u306e\u3067\u3001\u3053\u3053\u3067\u5f97\u3089\u308c\u308b <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u306f\u30ea\u30b9\u30af\u4e2d\u7acb\u6e2c\u5ea6\u306e\u3082\u3068\u3067\u306e\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8452em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8452em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n<p>\u306a\u305c <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8843em;vertical-align:-0.0391em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8452em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8452em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8452em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">P<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u304c\u6210\u308a\u7acb\u3064\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u6295\u8cc7\u5bb6\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u30ea\u30b9\u30af\u306b\u5bfe\u3057\u3066\u88dc\u511f\u3092\u8981\u6c42\u3057\u307e\u3059\u3002\u30ea\u30b9\u30af\u3092\u5acc\u3046\u6295\u8cc7\u5bb6\u306f\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u30ea\u30b9\u30af\u306e\u3042\u308b\u50b5\u5238\u3092\u3001\u671f\u5f85\u640d\u5931\u306e\u5206\u3060\u3051\u3067\u306a\u304f\u3001\u305d\u308c\u4ee5\u4e0a\u306b\u5b89\u304f\u8cb7\u304a\u3046\u3068\u3057\u307e\u3059\u3002\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u3068\u3001\u9006\u7b97\u3055\u308c\u308b\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u5927\u304d\u304f\u306a\u308a\u3001\u3057\u305f\u304c\u3063\u3066 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8452em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8452em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3082\u5927\u304d\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u6570\u5f0f\u3067\u66f8\u304f\u3068\u3001\u30ea\u30b9\u30af\u4ed8\u304d\u50b5\u5238\u4fa1\u683c\u306f<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.9694em;vertical-align:-0.2861em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">P<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.3361em;\"><span style=\"top:-2.55em;margin-left:-0.1389em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord text mtight\"><span class=\"mord mtight\">risky<\/span><\/span><\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.2861em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.2452em;vertical-align:-0.35em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8913em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathbb\">E<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8952em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord text\"><span class=\"mord\">payoff<\/span><\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002\u6295\u8cc7\u5bb6\u304c\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u8981\u6c42\u3059\u308b\u3068\u306f\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8556em;vertical-align:-0.1667em;\"><\/span><span class=\"mord mathbb\">Q<\/span><\/span><\/span><\/span><\/eq> \u306e\u3082\u3068\u3067\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3092\u5b9f\u969b\u3088\u308a\u9ad8\u3081\u306b\u8a55\u4fa1\u3059\u308b\u3053\u3068\u306b\u76f8\u5f53\u3057\u307e\u3059\u3002\u7b2c45\u56de\u3067\u898b\u305f\u3088\u3046\u306b\u3001\u30ea\u30b9\u30af\u4e2d\u7acb\u6e2c\u5ea6\u306e\u3082\u3068\u3067\u306e\u78ba\u7387\u3068\u73fe\u5b9f\u306e\u78ba\u7387\u306f\u4e00\u822c\u306b\u7570\u306a\u308a\u307e\u3059\u3002\u30c7\u30d5\u30a9\u30eb\u30c8\u30ea\u30b9\u30af\u306e\u6587\u8108\u3067\u306f\u3001\u30ea\u30b9\u30af\u56de\u907f\u7684\u306a\u6295\u8cc7\u5bb6\u304c\u3044\u308b\u9650\u308a<\/p>\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.9343em;vertical-align:-0.0391em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8952em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">&gt;<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8952em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8952em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">P<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n<p>\u304c\u6210\u308a\u7acb\u3061\u307e\u3059\u3002\u5dee <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.9286em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8452em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8452em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8452em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">P<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u304c\u30c7\u30d5\u30a9\u30eb\u30c8\u306b\u5bfe\u3059\u308b\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0\u306e\u5927\u304d\u3055\u3092\u53cd\u6620\u3057\u3066\u3044\u307e\u3059\u3002 \u220e<\/p>\n<\/details>\n\n\n\n<h2 class=\"wp-block-heading\">5. \u53cd\u4f8b \u2015 \u9006\u7b97\u3057\u305f\u78ba\u7387\u306f\u5b9f\u969b\u306e\u78ba\u7387\u3067\u306f\u306a\u3044<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">CEX-DF2-1: \u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u51fa\u3057\u305f\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u306f\u5b9f\u7e3e\u3068\u5927\u304d\u304f\u7570\u306a\u308b<\/h3>\n\n\n\n<p>\u30b9\u30d7\u30ec\u30c3\u30c9\u304c 150 \u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\uff08<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.0150<\/span><\/span><\/span><\/span><\/eq>\uff09\u3001\u56de\u53ce\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.40<\/span><\/span><\/span><\/span><\/eq> \u306e\u793e\u50b5\u3092\u8003\u3048\u307e\u3059\u3002(3.4) \u306b <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">5<\/span><\/span><\/span><\/span><\/eq> \u3092\u4ee3\u5165\u3057\u3066\u30ea\u30b9\u30af\u4e2d\u7acb\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u3092\u6c42\u3081\u308b\u3068<\/p>\n\n\n\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8952em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8952em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.025664<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n<p>\u3067\u3059\uff08\u8fd1\u4f3c\u5024\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.025<\/span><\/span><\/span><\/span><\/eq>\uff09\u3002\u3053\u3053\u304b\u30895\u5e74\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3092\u8a08\u7b97\u3059\u308b\u3068<\/p>\n\n\n\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7278em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.0591em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.0591em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mtight\"><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.9231em;\"><span style=\"top:-2.931em;margin-right:0.0714em;\"><span class=\"pstrut\" style=\"height:2.5em;\"><\/span><span class=\"katex-sizing reset-size3 size1 mtight\"><span class=\"mord mtight\"><span class=\"mord mathbb mtight\">Q<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mbin mtight\">\u00d7<\/span><span class=\"mord mtight\">5<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8056em;vertical-align:-0.0556em;\"><\/span><span class=\"mord\">12.04%<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n<p>\u3067\u3059\u3002\u4e00\u65b9\u3001\u540c\u7a0b\u5ea6\u306e\u683c\u4ed8\u3051\u306e\u793e\u50b5\u306b\u3064\u3044\u3066\u904e\u53bb\u306e\u5b9f\u7e3e\u304b\u3089\u63a8\u5b9a\u3057\u305f5\u5e74\u7d2f\u7a4d\u30c7\u30d5\u30a9\u30eb\u30c8\u7387\u306e\u5178\u578b\u5024\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8056em;vertical-align:-0.0556em;\"><\/span><span class=\"mord\">1.50%<\/span><\/span><\/span><\/span><\/eq> \u7a0b\u5ea6\u3067\u3059\u3002\u30ea\u30b9\u30af\u4e2d\u7acb\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8056em;vertical-align:-0.0556em;\"><\/span><span class=\"mord\">12.04%<\/span><\/span><\/span><\/span><\/eq> \u306f\u5b9f\u7e3e\u306e\u7d048\u500d\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u5dee\u306e <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8056em;vertical-align:-0.0556em;\"><\/span><span class=\"mord\">10.54%<\/span><\/span><\/span><\/span><\/eq> \u30dd\u30a4\u30f3\u30c8\u306f<strong>\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0<\/strong>\u3067\u3059\u3002\u5e02\u5834\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u30ea\u30b9\u30af\u3092\u5b9f\u969b\u3088\u308a\u9ad8\u304f\u898b\u7a4d\u3082\u308b\u3053\u3068\u3067\u3001\u6295\u8cc7\u5bb6\u306b\u8ffd\u52a0\u306e\u88dc\u511f\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002\u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u9006\u7b97\u3057\u305f\u78ba\u7387\u3092\u300c\u3053\u306e\u4f1a\u793e\u304c\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u78ba\u7387\u300d\u3068\u89e3\u91c8\u3057\u3066\u306f\u3044\u3051\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">CEX-DF2-2: \u56de\u53ce\u7387\u3092\u7121\u8996\u3059\u308b\u3068\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u304c\u5927\u304d\u304f\u5909\u308f\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u540c\u3058\u30b9\u30d7\u30ec\u30c3\u30c9 150 \u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u304b\u3089\u9006\u7b97\u3057\u3066\u3082\u3001\u56de\u53ce\u7387\u306e\u4eee\u5b9a\u306b\u3088\u3063\u3066\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u306f\u5927\u304d\u304f\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<table>\n<thead>\n<tr>\n<th>\u56de\u53ce\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq><\/th>\n<th>\u8fd1\u4f3c <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mord\">\/<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq><\/th>\n<th>\u53b3\u5bc6 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq>\uff08<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">5<\/span><\/span><\/span><\/span><\/eq>\uff09<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8056em;vertical-align:-0.0556em;\"><\/span><span class=\"mord\">1.50%<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8056em;vertical-align:-0.0556em;\"><\/span><span class=\"mord\">1.50%<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<tr>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.40<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8056em;vertical-align:-0.0556em;\"><\/span><span class=\"mord\">2.50%<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8056em;vertical-align:-0.0556em;\"><\/span><span class=\"mord\">2.57%<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0<\/span><\/span><\/span><\/span><\/eq> \u306e\u3068\u304d\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308c\u3070\u5168\u984d\u304c\u5931\u308f\u308c\u308b\u306e\u3067\u3001\u5c11\u306a\u3044\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3067\u3082\u5927\u304d\u306a\u640d\u5931\u306b\u306a\u308a\u307e\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.40<\/span><\/span><\/span><\/span><\/eq> \u306e\u3068\u304d\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u3066\u30824\u5272\u306f\u623b\u308b\u306e\u3067\u3001\u540c\u3058\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u8aac\u660e\u3059\u308b\u306b\u306f\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u304c\u5927\u304d\u304f\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p>\u8fd1\u4f3c <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4831em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq> \u3092\u898b\u308c\u3070\u660e\u3089\u304b\u3067\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><\/span><\/span><\/span><\/eq> \u3092\u56fa\u5b9a\u3057\u3066 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0<\/span><\/span><\/span><\/span><\/eq> \u304b\u3089 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.40<\/span><\/span><\/span><\/span><\/eq> \u306b\u4e0a\u3052\u308b\u3068\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><\/span><\/span><\/span><\/eq> \u304b\u3089 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mord\">\/0.60<\/span><\/span><\/span><\/span><\/eq> \u3078\u3068\u7d041.67\u500d\u306b\u8df3\u306d\u4e0a\u304c\u308a\u307e\u3059\u3002\u56de\u53ce\u7387\u306e\u4eee\u5b9a\u3092\u660e\u793a\u3057\u306a\u3044\u307e\u307e\u300c\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u306f\u4f55\u30d1\u30fc\u30bb\u30f3\u30c8\u300d\u3068\u8a00\u3046\u306e\u306f\u7121\u610f\u5473\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u306a\u304a <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0<\/span><\/span><\/span><\/span><\/eq> \u306e\u3068\u304d\u306f\u8fd1\u4f3c\u3068\u53b3\u5bc6\u304c\u5b8c\u5168\u306b\u4e00\u81f4\u3057\u307e\u3059\u3002\u3053\u308c\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0<\/span><\/span><\/span><\/span><\/eq> \u3092\u4ee3\u5165\u3059\u308b\u3068 (2.1) \u304c <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1.1941em;vertical-align:-0.345em;\"><\/span><span class=\"mord\">\u2212<\/span><span class=\"mord\"><span class=\"mopen nulldelimiter\"><\/span><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8451em;\"><span style=\"top:-2.655em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><span style=\"top:-3.23em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"frac-line\" style=\"border-bottom-width:0.04em;\"><\/span><\/span><span style=\"top:-3.394em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">1<\/span><\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.345em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose nulldelimiter\"><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mop\">ln<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8491em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u3068\u306a\u308b\u305f\u3081\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">CEX-DF2-3: \u91d1\u5229\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u72ec\u7acb\u6027\u304c\u5d29\u308c\u308b\u3068\u304d<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eee\u5b9a\u306b\u300c\u91d1\u5229\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u306f\u72ec\u7acb\u300d\u3068\u7f6e\u304d\u307e\u3057\u305f\u304c\u3001\u73fe\u5b9f\u306b\u306f\u3053\u308c\u304c\u6210\u308a\u7acb\u305f\u306a\u3044\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002\u7279\u306b\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308b\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u304c\u5897\u3048\u308b\u6b63\u306e\u76f8\u95a2\u304c\u3042\u308b\u5834\u5408\u3092\u6570\u5024\u3067\u898b\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2\u3064\u306e\u72b6\u614b\u304c\u7b49\u78ba\u7387\u3067\u8d77\u304d\u308b\u3068\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<table>\n<thead>\n<tr>\n<th>\u72b6\u614b<\/th>\n<th>\u91d1\u5229 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0278em;\">r<\/span><\/span><\/span><\/span><\/eq><\/th>\n<th>\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>A\uff08\u9ad8\u91d1\u5229\u30fb\u9ad8\u30c7\u30d5\u30a9\u30eb\u30c8\uff09<\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.05<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.06<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<tr>\n<td>B\uff08\u4f4e\u91d1\u5229\u30fb\u4f4e\u30c7\u30d5\u30a9\u30eb\u30c8\uff09<\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.01<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.01<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.40<\/span><\/span><\/span><\/span><\/eq>\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">5<\/span><\/span><\/span><\/span><\/eq> \u3068\u3057\u3066\u3001\u5404\u72b6\u614b\u3067\u306e\u793e\u50b5\u4fa1\u683c\u3092\u8a08\u7b97\u3057\u3001\u305d\u306e\u5e73\u5747\u3092\u53d6\u308b\u3068<\/p>\n\n\n\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8333em;vertical-align:-0.15em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">P<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.1514em;\"><span style=\"top:-2.55em;margin-left:-0.1389em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord text mtight\"><span class=\"mord mtight\">corr<\/span><\/span><\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.15em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7278em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">0.5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u00d7<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8333em;vertical-align:-0.15em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">P<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.3283em;\"><span style=\"top:-2.55em;margin-left:-0.1389em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\">A<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.15em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7278em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">0.5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u00d7<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8333em;vertical-align:-0.15em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">P<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.3283em;\"><span style=\"top:-2.55em;margin-left:-0.1389em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0502em;\">B<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.15em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.790542<\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n<p class=\"wp-block-paragraph\">\u3067\u3059\u3002\u4e00\u65b9\u3001\u91d1\u5229\u3068\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u304c\u305d\u308c\u305e\u308c\u540c\u30582\u3064\u306e\u5024\u3092\u7b49\u78ba\u7387\u3067\u53d6\u308b\u3082\u306e\u306e\u3001\u4e92\u3044\u306b\u72ec\u7acb\u3060\u3068\u4eee\u5b9a\u3057\u3066\u8a08\u7b97\u3057\u307e\u3059\u3002\u72ec\u7acb\u306a\u3089\u671f\u5f85\u5024\u306f\u7a4d\u306b\u5206\u304b\u308c\u308b\u306e\u3067<\/p>\n\n\n\n<section><eqn><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:2.7591em;vertical-align:-1.1296em;\"><\/span><span class=\"mord\"><span class=\"mtable\"><span class=\"col-align-r\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.6296em;\"><span style=\"top:-3.7304em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">P<\/span><span class=\"msupsub\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.3361em;\"><span style=\"top:-2.55em;margin-left:-0.1389em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord text mtight\"><span class=\"mord mtight\">indep<\/span><\/span><\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.2861em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span style=\"top:-2.2304em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.1296em;\"><span><\/span><\/span><\/span><\/span><\/span><span class=\"col-align-l\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.6296em;\"><span style=\"top:-3.7304em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord mathbb\">E<\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8913em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u22c5<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathbb\">E<\/span><span class=\"mopen\"><span class=\"delimsizing size1\">[<\/span><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">+<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8991em;\"><span style=\"top:-3.113em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mathnormal mtight\">\u03bb<\/span><span class=\"mord mathnormal mtight\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mclose\"><span class=\"delimsizing size1\">]<\/span><\/span><\/span><\/span><span style=\"top:-2.2304em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord\"><span class=\"mord\"><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord\">0.865015<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u00d7<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mord\">0.907614<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mord\">0.785100<\/span><\/span><\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:1.1296em;\"><span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eqn><\/section>\n\n\n\n<p>\u3067\u3059\u3002\u5dee\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.0054<\/span><\/span><\/span><\/span><\/eq> \u3067\u3001\u984d\u9762\u306e\u7d040.5%\u306b\u5f53\u305f\u308a\u3001\u7121\u8996\u3067\u304d\u306a\u3044\u5927\u304d\u3055\u3067\u3059\u3002\u306a\u304a\u3001\u5e73\u5747\u91d1\u5229 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.5678em;\"><\/span><span class=\"mord katex-accent\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.5678em;\"><span style=\"top:-3em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0278em;\">r<\/span><\/span><span style=\"top:-3em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"accent-body\" style=\"left:-0.1944em;\"><span class=\"mord\">\u02c9<\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.03<\/span><\/span><\/span><\/span><\/eq> \u3068\u5e73\u5747\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8312em;\"><\/span><span class=\"mord katex-accent\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8312em;\"><span style=\"top:-3em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><span style=\"top:-3.2634em;\"><span class=\"pstrut\" style=\"height:3em;\"><\/span><span class=\"accent-body\" style=\"left:-0.25em;\"><span class=\"mord\">\u02c9<\/span><\/span><\/span><\/span><\/span><\/span><\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.035<\/span><\/span><\/span><\/span><\/eq> \u3092\u305d\u306e\u307e\u307e\u4ee3\u5165\u3059\u308b\u3068 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.777800<\/span><\/span><\/span><\/span><\/eq> \u306b\u306a\u308a\u307e\u3059\u304c\u3001\u3053\u3061\u3089\u306f\u72ec\u7acb\u6027\u3067\u306f\u306a\u304f\u300c\u5e73\u5747\u3092\u4ee3\u5165\u3059\u308b\u300d\u3053\u3068\u306b\u3088\u308b\u305a\u308c\u3082\u542b\u3080\u306e\u3067\u3001\u76f8\u95a2\u306e\u52b9\u679c\u3060\u3051\u3092\u898b\u308b\u6bd4\u8f03\u306b\u306f\u4f7f\u3048\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u306a\u305c\u5dee\u304c\u51fa\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u72b6\u614bB\u3067\u306f\u91d1\u5229\u304c\u4f4e\u3044\uff08\u5272\u5f15\u304c\u5c11\u306a\u3044\uff09\u306e\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3082\u5c11\u306a\u3044\uff08\u8fd4\u6e08\u3055\u308c\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\uff09\u306e\u3067\u3001\u50b5\u5238\u4fa1\u683c\u304c\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002\u72ec\u7acb\u3092\u4eee\u5b9a\u3059\u308b\u3068\u3001\u3053\u306e\u300c\u826f\u3044\u3053\u3068\u304c\u91cd\u306a\u308b\u300d\u52b9\u679c\u3092\u898b\u843d\u3068\u3057\u307e\u3059\u3002\u91d1\u5229\u3068\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u76f8\u95a2\u3092\u7121\u8996\u3059\u308b\u3068\u3001\u50b5\u5238\u4fa1\u683c\u3092\u904e\u5c0f\u8a55\u4fa1\u3059\u308b\u5834\u5408\u304c\u3042\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u307e\u3067\u306e3\u3064\u306e\u53cd\u4f8b\u306f\u3001\u3044\u305a\u308c\u3082\u30e2\u30c7\u30eb\u306e\u4eee\u5b9a\u3092\u7121\u81ea\u899a\u306b\u4f7f\u3046\u3053\u3068\u306e\u5371\u967a\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">6. \u6570\u5024\u4f8b \u2015 \u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u3092\u51fa\u3059<\/h2>\n\n\n\n<p>\u3053\u3053\u307e\u3067\u306e\u516c\u5f0f\u3092\u6570\u5024\u3067\u78ba\u8a8d\u3057\u307e\u3059\u3002\u30d1\u30e9\u30e1\u30fc\u30bf\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.02<\/span><\/span><\/span><\/span><\/eq>\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.40<\/span><\/span><\/span><\/span><\/eq>\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0278em;\">r<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.03<\/span><\/span><\/span><\/span><\/eq> \u3067\u3059\u3002<\/p>\n\n\n\n<p><strong>\u751f\u5b58\u78ba\u7387\uff08THM-DF2-1\uff09\u3002<\/strong> <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8141em;\"><\/span><span class=\"mord\"><span class=\"mord mathnormal\">e<\/span><span class=\"msupsub\"><span class=\"vlist-t\"><span class=\"vlist-r\"><span class=\"vlist\" style=\"height:0.8141em;\"><span style=\"top:-3.063em;margin-right:0.05em;\"><span class=\"pstrut\" style=\"height:2.7em;\"><\/span><span class=\"katex-sizing reset-size6 size3 mtight\"><span class=\"mord mtight\"><span class=\"mord mtight\">\u2212<\/span><span class=\"mord mtight\">0.02<\/span><span class=\"mord mathnormal mtight\">t<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/eq> \u3092 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.8389em;vertical-align:-0.1944em;\"><\/span><span class=\"mord\">1<\/span><span class=\"mpunct\">,<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\">5<\/span><span class=\"mpunct\">,<\/span><span class=\"mspace\" style=\"margin-right:0.1667em;\"><\/span><span class=\"mord\">10<\/span><\/span><\/span><\/span><\/eq> \u3067\u8a08\u7b97\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<table>\n<thead>\n<tr>\n<th>\u5e74\u6570 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><\/span><\/span><\/span><\/eq><\/th>\n<th>\u751f\u5b58\u78ba\u7387 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">Q<\/span><span class=\"mopen\">(<\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">1<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.980199<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<tr>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">5<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.904837<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<tr>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">10<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.818731<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6151em;\"><\/span><span class=\"mord mathnormal\">t<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">10<\/span><\/span><\/span><\/span><\/eq> \u3067\u3082\u7d0482%\u304c\u751f\u5b58\u3057\u3066\u3044\u307e\u3059\u3002\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c82%\u306f\u3001\u5e74\u9593\u7d042%\u305a\u3064\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\uff08\u751f\u304d\u6b8b\u3063\u3066\u3044\u308b\u4f1a\u793e\u306e\u3046\u3061\uff09\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p><strong>\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u8fd1\u4f3c\u3068\u53b3\u5bc6\u5024\uff08THM-DF2-2\uff09\u3002<\/strong> \u8fd1\u4f3c <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4831em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.7278em;vertical-align:-0.0833em;\"><\/span><span class=\"mord\">0.02<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u00d7<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.60<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.012<\/span><\/span><\/span><\/span><\/eq>\u3001\u3059\u306a\u308f\u3061 120 \u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u3067\u3059\u3002<\/p>\n\n\n\n<table>\n<thead>\n<tr>\n<th>\u6e80\u671f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><\/span><\/span><\/span><\/eq><\/th>\n<th>\u53b3\u5bc6\u30b9\u30d7\u30ec\u30c3\u30c9 (bp)<\/th>\n<th>\u8fd1\u4f3c (bp)<\/th>\n<th>\u5dee (bp)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">1<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">119.52<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">120.00<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.48<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<tr>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">5<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">117.58<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">120.00<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">2.42<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<tr>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">10<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">115.14<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">120.00<\/span><\/span><\/span><\/span><\/eq><\/td>\n<td><eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">4.86<\/span><\/span><\/span><\/span><\/eq><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p>\u6e80\u671f\u304c\u77ed\u3044\u307b\u3069\u8fd1\u4f3c\u304c\u826f\u304f\u306a\u308a\u307e\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">1<\/span><\/span><\/span><\/span><\/eq> \u3067\u306f\u5dee\u306f1\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u672a\u6e80\u3067\u3059\u3002<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">10<\/span><\/span><\/span><\/span><\/eq> \u3067\u3082\u8aa4\u5dee\u306f5\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u4ee5\u4e0b\u3067\u3059\u304b\u3089\u3001\u8fd1\u4f3c (2.2) \u306f\u304b\u306a\u308a\u826f\u3044\u7cbe\u5ea6\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u53b3\u5bc6\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u6e80\u671f\u3068\u3068\u3082\u306b\u6e1b\u5c11\u3059\u308b\u306e\u306f\u3001\u9577\u3044\u671f\u9593\u307b\u3069\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u304c\u9ad8\u304f\u306a\u308a\u3001<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><\/span><\/span><\/span><\/eq> \u306b\u3088\u308b\u56de\u53ce\u306e\u52b9\u679c\u304c\u76f8\u5bfe\u7684\u306b\u5927\u304d\u304f\u306a\u308b\u305f\u3081\u3067\u3059\u3002<\/p>\n\n\n\n<p><strong>\u30b9\u30d7\u30ec\u30c3\u30c9150bp\u304b\u3089\u306e\u9006\u7b97\u3002<\/strong> <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4306em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.0150<\/span><\/span><\/span><\/span><\/eq> \u304b\u3089 <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><\/span><\/span><\/span><\/eq> \u3092\u9006\u7b97\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<ul>\n<li>\u8fd1\u4f3c: <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mord\">\/<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord\">0.0150\/0.60<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.025<\/span><\/span><\/span><\/span><\/eq>\uff082.50%\uff09<\/li>\n<li>\u53b3\u5bc6\uff08<eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6833em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.1389em;\">T<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">5<\/span><\/span><\/span><\/span><\/eq>\uff09: <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6944em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">=<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.6444em;\"><\/span><span class=\"mord\">0.025664<\/span><\/span><\/span><\/span><\/eq>\uff082.57%\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u8fd1\u4f3c\u3068\u53b3\u5bc6\u306e\u5dee\u306f\u7d047\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u3067\u3059\u3002\u7c21\u5358\u306a\u5272\u308a\u7b97\u3067\u5341\u5206\u306a\u7cbe\u5ea6\u304c\u5f97\u3089\u308c\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">7. \u6b21\u56de\u3078 \u2015 \u69cb\u9020\u30e2\u30c7\u30eb\u3068 CDS<\/h2>\n\n\n\n<p>\u4eca\u56de\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u5916\u751f\u7684\u306b\u4e0e\u3048\u3089\u308c\u305f\u78ba\u7387\u7684\u306a\u6642\u523b\u3068\u3057\u3066\u6271\u3044\u307e\u3057\u305f\u3002\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u304c\u4e00\u5b9a\u3067\u3042\u308c\u3070\u751f\u5b58\u78ba\u7387\u306f\u6307\u6570\u95a2\u6570\u3067\u66f8\u3051\u3001\u30b9\u30d7\u30ec\u30c3\u30c9\u3068\u306e\u95a2\u4fc2\u306f <eq><span class=\"katex\"><span class=\"katex-html\" aria-hidden=\"true\"><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:0.4831em;\"><\/span><span class=\"mord mathnormal\">s<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><span class=\"mrel\">\u2248<\/span><span class=\"mspace\" style=\"margin-right:0.2778em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\">\u03bb<\/span><span class=\"mopen\">(<\/span><span class=\"mord\">1<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><span class=\"mbin\">\u2212<\/span><span class=\"mspace\" style=\"margin-right:0.2222em;\"><\/span><\/span><span class=\"katex-base\"><span class=\"katex-strut\" style=\"height:1em;vertical-align:-0.25em;\"><\/span><span class=\"mord mathnormal\" style=\"margin-right:0.0077em;\">R<\/span><span class=\"mclose\">)<\/span><\/span><\/span><\/span><\/eq> \u3068\u3044\u3046\u7c21\u6f54\u306a\u8fd1\u4f3c\u3067\u6349\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3057\u304b\u3057\u5927\u304d\u306a\u554f\u3044\u304c\u6b8b\u3063\u3066\u3044\u307e\u3059\u3002\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u306f\u3069\u3053\u304b\u3089\u6765\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u4f1a\u793e\u306e\u8cc7\u7523\u3084\u8ca0\u50b5\u306e\u69cb\u9020\u304b\u3089\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u5185\u751f\u7684\u306b\u5c0e\u304f\u30e2\u30c7\u30eb\u304c\u3042\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ea\u30b9\u30af\u3092\u76f4\u63a5\u58f2\u8cb7\u3059\u308b\u5e02\u5834\u304c\u3042\u308a\u3001\u305d\u3053\u3067\u306f\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u3082\u3063\u3068\u7d14\u7c8b\u306b\u89b3\u6e2c\u3067\u304d\u307e\u3059\u3002\u6b21\u56de \u7b2c95\u56de\u3067\u306f\u3001\u3053\u308c\u3089\u3092\u6271\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u3088\u304f\u3042\u308b\u8cea\u554f<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u30cf\u30b6\u30fc\u30c9\u30ec\u30fc\u30c8\u3068\u306f\u4f55\u3067\u3059\u304b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u307e\u3060\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u3066\u3044\u306a\u3044\u4f1a\u793e\u304c\u3001\u6b21\u306e\u77ac\u9593\u306b\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u5272\u5408\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u5927\u304d\u3044\u307b\u3069\u5371\u306a\u3044\u306e\u3067\u3059\u304b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u304a\u304a\u3080\u306d\u305d\u3046\u3067\u3059\u304c\u3001\u6d41\u52d5\u6027\u3084\u30ea\u30b9\u30af\u3078\u306e\u5bfe\u4fa1\u3082\u542b\u307e\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u56de\u53ce\u7387\u306f\u3069\u3046\u6c7a\u3081\u308b\u306e\u3067\u3059\u304b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u904e\u53bb\u306e\u5b9f\u7e3e\u304b\u3089\u6c7a\u3081\u308b\u3053\u3068\u304c\u591a\u304f\u3001\u63a8\u5b9a\u306e\u4e0d\u78ba\u304b\u3055\u304c\u5927\u304d\u3044\u91cf\u3067\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u53c2\u8003\u6587\u732e<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n\n<li>Duffie D. and Singleton K. J.\u3001Credit Risk \u2015 Pricing Measurement and Management\u3001Princeton University Press\u30012003\u5e74<\/li>\n\n\n<li>Hull J. C.\u3001Options Futures and Other Derivatives\u3001\u7b2c11\u7248\u3001Pearson\u30012021\u5e74<\/li>\n\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u6570\u5024\u4f8b\u306f <code>compute.py<\/code> \u306b\u3088\u308a\u691c\u7b97\u6e08\u307f\u3002float \u6f14\u7b97\u3092\u4f7f\u7528\uff08\u6307\u6570\u30fb\u5bfe\u6570\u304c\u5fc5\u8981\u306a\u305f\u3081\uff09\u3002<\/em><\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>\u4f4d\u7f6e: \u7b2c9\u90e8 \u7b2c94\u56de \/ \u524d\u63d0: \u7b2c4\u56de\u3001\u7b2c9\u56de\u3001\u7b2c93\u56de \/ \u6570\u5b66\u7de8: \u306a\u3057 \/ \u3053\u306e\u56de\u3067\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3053\u3068: \u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u4fa1\u683c\u306b\u7e54\u308a\u8fbc\u307e\u308c\u305f\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\u3092\u8a08\u7b97\u3057\u3001\u5b9f\u969b\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u7387\u3068\u306e\u9055\u3044\u3092\u8aac\u660e\u3067 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":209194,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"swell_btn_cv_data":"","footnotes":""},"categories":[159],"tags":[169],"class_list":["post-208414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-engineering","tag-fe-part9-rates-credit"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.4 - aioseo.com -->\n\t<meta name=\"description\" content=\"\u4f4d\u7f6e: \u7b2c9\u90e8 \u7b2c94\u56de \/ \u524d\u63d0: \u7b2c4\u56de\u3001\u7b2c9\u56de\u3001\u7b2c93\u56de \/ \u6570\u5b66\u7de8: \u306a\u3057 \/ 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