DZAJ85:VLGZ]IOIJLFG@Z M@ DZAJ85:VLGZ]IOIJLFG@Z JOLDI]LSIJLÚG JOLDI ]LSIJLÚG \ Q@G]LOIJLÚG Q @G]LOIJLÚG
ÄGMLJ@ ◆
Uixéd`}xfz apgmid`g}io`z | fu`xijlfg`z hézljiz `g ilx` ijfgmljlfgimf
◆
Jfgmljlfg`z m` hl`g`z}ix f jfgafx}
◆
Jéojpof m` oi jixni }ìxdlji m` x`axln`xijlúg
◆
Jéojpof m` oi déyplgi
◆
Mlz}xlhpjlúg m` ilx`' mlz`ùf m` jfgmpj}fz
◆
]lufz m` zlz}`diz
◆
Gfxdi}lqi
LLL' JIOJPOF JIOJPO F M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG LG]XFMPJJLÚG' @o jéojpof m` oi jixni }ìxdlji m` pgi lgz}ioijlúg m` ilx` ijfgmljlfgimf jfgzlz}` `g m`}`xdlgix oiz iufx}ijlfg`z m` jiofx yp` m`h`g `r}xi`xz` i alg m` fh}`g`x oi }`du`xi}pxi | bpd`mim m` uxf|`j}f `g `o ofjio i `gaxlix'
Uixi mld`gzlfgix oiz lgz}ioijlfg`z m`h`g x`iolsixz` mfz jéojpofz mla`x`gjlimfz/ mla`x`gjlimf z/ ufx pg oimf `o dérldf jfxx`zufgml`g jfxx`zufgml`g}` }` i jimi ofjio/ jfg of yp` z` m`alg`g ofz `yplufz }`xdlgio`z m` jimi pgf m` `oofz/ | ufx f}xf oi uf}`gjli dérldi jfgcpg}i/ jfg oi yp` z` z`o`jjlfgig ofz `yplufz m` uxfmpjj uxfmpjjlúg lúg m` axäf'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG LG]XFMPJJLÚG'
@o jiofx iufx}imf up`m` z`x z`gzlho` f oi}`g}`3 •@o jiofx z`gzlho` z` diglal`z}i ufx qixlijlfg`z m` oi }`du`xi}pxi z`ji m`o idhl`g}` io yp` z` iuolji' •@o jiofx oi}`g}` z` diglal`z}i ufx qixlijlfg`z m`o jfg}`glmf m` bpd`mim "qiufx m` inpi, `g `o idhl`g}`'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG LG]XFMPJJLÚG' @g `o jpimxf zlnpl`g}` z` mig ofz mlq`xzfz }lufz m` jixniz yp` lg}`xql`g`g `g oi jixni }f}io'
JIXNI Ximlijlúg Zfoix' ]xigzdlzlúg ] xigzdlzlúg i }xiqìz m` ofz j`xxidl`g}fz' Q`g}loijlúg ` lgalo}xijlfg`z' Jixniz Lg}`xgiz'
Z`gzlho` Oi}`g}` ZL
GF
ZL
GF
ZL ZL
ZL ZL
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG LG]XFMPJJLÚG' I, Jixni z`gzlho` I9' Jiofx m`hlmf i oi ximlijlúg zfoix i }xiqìz m` oiz zpu`xaljl`z ijxlz}ioimiz "q`g}igiz/ joixihf|iz f opj`xgixlfz,' I8' Jiofx m`hlmf i oi ximlijlúg | }xigzdlzlúg i }xiqìz m` uix`m`z | }`jbf' I:' Jiofx m`hlmf i oi }xigzdlzlúg "zúof }xigzdlzlúg, i }xiqìz m` uix`m`z | }`jbf gf `r}`xlfx`z' I=' Jiofx z`gzlho` m`hlmf io ilx` m` lgalo}xijlfg`z' I0' Jiofx z`gzlho` n`g`ximf ufx oiz u`xzfgiz yp` fjpuig `o ofjio' I1' Jiofx n`g`ximf ufx oi lopdlgijlúg m`o ofjio' I>' Jiofx n`g`ximf ufx déyplgiz "zl `rlz}`g, `g `o lg}`xlfx m`o ofjio' I2' Jpioypl`x f}xf yp` up`m` uxfmpjlxz`'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG LG]XFMPJJLÚG' H, Jixni oi}`g}` H9' Jiofx oi}`g}` m`hlmf io ilx` m` lgalo}xijlfg`z' H8' Jiofx oi}`g}` n`g`ximf ufx oiz u`xzfgiz yp` fjpuig `o ofjio' H:' Jiofx oi}`g}` uxfmpjlmf ufx jpioypl`x f}xi jipzi'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG LG]XFMPJJLÚG' Jpigmf z` p}lolsi ilx` `r}`xlfx m` q`g}loijlúg/ z` jfgzlm`xig mfz uix}lmiz déz3 I<' Jiofx z`gzlho` uxfj`m`g}` m`o ilx` m` q`g}loijlúg' H=' Jiofx oi}`g}` uxfj`m`g}` m`o ilx` m` q`g}loijlúg' Zl z` }l`g`g `g jp`g}i oiz uix}lmiz I< | H=/ oi zpdi m` }fmiz oiz uix}lmiz m` jiofx z`gzlho` z` m`gfdlgi jixni z`gzlho` `a`j}lqi / | oi zpdi m` }fmiz oiz oi}`g}`z/ jixni oi}`g}` `a`j}lqi'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG ILX@ M@ Q@G]LOIJLÚG'
@z ufzlho` `r}xi`x ilx` m` pg ofjio/ `gaxlixof | qfoq`x i lg}xfmpjlxof `g `o dlzdf'
Zlg `dhixnf/ jpigmf `g `o ofjio `rlz}`g ap`g}`z m` dio fofx/ jfdf zfg apdimfx`z/ fofx`z jfxufxio`z/ `}j'/ `g iyp`o ofjio gf bi| z`gzijlúg m` jfgafx}/ gf ufx jpoui m` oi }`du`xi}pxi/ zlgf m`o ilx` dlzdf/ yp` bp`o` dio f lxxl}i ofz fcfz'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG ILX@ M@ Q@G]LOIJLÚG'
F}xi ufzlhlolmim `z gf `duo`ix ilx` m`o ofjio/ zlgf ógljid`g}` ilx` `r}`xlfx'
@z}` zlz}`di gf ux`z`g}i ofz lgjfgq`gl`g}`z m`o uxld`xf/ zlg `dhixnf oi déyplgi m`h` `gaxlix ilx` `r}`xlfx yp` `z}é dp| jiol`g}` | ufx of }ig}f `duo`ix dpjbi `g`xnäi `g `o uxfj`zf'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG ILX@ M@ Q@G]LOIJLÚG'
Oi }`xj`xi ufzlhlolmim `z d`sjoix ilx` m`o `r}`xlfx jfg ilx` uxfj`m`g}` m`o ofjio; `z}` dì}fmf `z `o déz im`jpimf ufxyp` x`óg` oiz q`g}iciz m` ofz mfz ig}`xlfx`z | glgnpgf m` ofz lgjfgq`gl`g} l gjfgq`gl`g}`z' `z' @g oi alnpxi b`dfz lgjoplmf pgi j`zlúg m` ilx` io `r}`xlfx/ im`déz m` oi `g}ximi m` ilx` m` q`g}loijlúg; `oof `z m`hlmf i yp` bi| yp` m`z`jbix oi dlzdi jig}lmim m` ilx` yp` `r}xi`dfz m`o `r}`xlfx/ u`xf uxfj`m`g}` m`o ofjio/ uixi yp` z`i `a`j}lqi oi x`gfqijlúg'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG ILX@ M@ Q@G]LOIJLÚG' Oi jig}lmim m` ilx` `r}`xlfx yp` z` p}lolsi `g oi d`sjoi/ z` ooidi ilx` m` q`g}loijlúg | `z `o `z}xlj}id`g}` g`j`zixlf uixi uxfmpjlx pgi x`gfqijlúg jfgq`gl`g}` m`o ilx` m`o ofjio'
@g oi }ihoi 9 z` big ux`z`g}imf ofz qiofx`z pzpio`z yp` z` p}lolsig/ jfdf qiofx dägldf | qiofx ijfgz`cimf/ `g d:&b ufx u`xzfgi' Hiz}i dpo}luoljix ufx `o gód`xf m` u`xzfgiz uixi }`g`x `o jipmio m` ilx` m` q`g}loijlúg/ yp` m`zlngix`dfz jfg `o zädhfof Qq'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG ILX@ M@ Q@G]LOIJLÚG' ]IHOI 9' G`j`zlmim`z m` q`g}loijlúg QQ m` mla`x`g}`z }lufz m` ofjio`z' ]luf m` ofjio
d:&b ufx u`xzfgi Ijfgz`cimf Dägldf
Iuix}id`g}fz
:0
9>
Higjfz
9>
9:
U`opyp`xäiz
80
9>
Faljlgiz
20
:0
Hix`z
12
=:
Iodij`g`z
9:
2/0
Aixdijliz
9>
9:
Aéhxljiz
9>
9:
Yplxúaigfz
$
$
Pxn`gjliz
05
=:
Uih`oofg`z
:0
80
05
=:
Bfzul}io`z Bf}`o`z
Jfjlgiz m` x`z}ipxig}`
>8 d:& d8 m` uiqld`g}f
Hix
85
9>
Jfd`mfx
80
85
Ipoiz
80
9>
]`i}xfz ]`i}xfz
80
9>
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JFGMLJLFG@Z M@ UXF\@J]F' Ofz mi}fz hézljfz x`yp`xlmfz uixi x`iolsix pg uxf|`j}f m` ilx` ijfgmljlfgimf zfg ofz zlnpl`g}`z3 Mi}fz m`o `mlaljlf Mi}fz n`fnxéaljfz m` phljijlúg ]`du`xi}pxi `r}`xlfx ` lg}`xlfx m` uxf|`j}f Bpd`mim x`oi}lqi lg}`xlfx | `r}`xlfx m` uxf|`j}f Zpu`xaljl` d`mli joldi}lsimi Io}pxi/ f qfopd`g d`mlf joldi}lsimf jol di}lsimf Zpu`xaljl` ijxlz}ioimi ufx fxl`g}ijlúg Jf`aljl`g}`z m` }xigzdlzlúg f }lufz m` j`xxidl`g}fz ufx fxl`g}ijlúg Gód`xf m` fjpuig}`z ufx sfgi&}luf m` ij}lqlmim Gód`xf m` x`gfqijlfg`z m` ilx` Uf}`gjli lgz}ioimi `g lopdlgijlúg Uf}`gjli m` f}xiz ap`g}`z z`gzlho`z/ déyplgiz/ `}j' Uf}`gjli m` f}xiz ap`g}`z oi}`g}`z/ déyplgiz/ `}j Qixlijlúg mlpxgi
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JFGMLJLFG@Z M@ UXF\@J]F' Jfgmljlfg`z `r}`xlfx`z @g oi ]ihoi 8 iuix`j`g oiz jfgmljlfg`z `r}`xlfx`z x`jfd`gmimiz `g q`xigf/ z`nóg oi zl}pijlúg | fxl`g}ijlúg m`o ofjio' ]IHOI 8' JFGMLJLFG@Z JFG MLJLFG@Z @R]@XLFX@Z X@JFD@GMIMIZ @G Q@XIGF Jlpmim
]`du`xi}pxi ³J
Bpd`mim x`oi}lqi
Qixlijlúg mlixli m` oi }`du`xi}pxi "@rjpxzlúg }ìxdlji @],
Iohij`}`
:0
:1
92
Ioljig}`
:9
15
9:
Iod`xäi
:0
10
2
Éqloi
:5
=9
9>
Himicfs
:2
=>
9>
Hixj`ofgi
:9
>5
2
Hlohif
:5
>9
$
Hpxnfz
:8
=5
90
Jéj`x`z
:2
:>
9=
Jémls
:8
00
98
Jiz}`ooúg
8<
15
<
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JFGMLJLFG@Z M@ UXF\@J]F' ]IHOI 8' JFGMLJLFG@Z @R]@XLFX@Z X@JFD@GMIMIZ @G Q@XIGF Jlpmim
]`du`xi}pxi ³J
Bpd`mim x`oi}lqi
Qixlijlúg mlixli m` oi }`du`xi}pxi "@rjpxzlúg }ìxdlji @],
Jlpmim X`io
:>
01
85
Júxmfhi
:<
::
9>
Jfxpùi
8:
1:
<
Jp`gji
::
08
92
N`xfgi
::
02
95
Nxigimi
:1
=<
92
Npimioicixi
:=
:>
$
Bp`oqi
:9
02
9=
Bp`zji
:9
>:
9=
:1
:>
90
Oiz Uiodiz
8=
10
=
O`úg
::
=5
91
Oìxlmi
:1
=0
9=
Ofnxfùf
::
0<
9=
Opnf
:5
15
9=
Dimxlm
:=
=:
90
Déoini
82
02
1
Ci`g
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JFGMLJLFG@Z M@ UXF\@J]F' ]IHOI 8' JFGMLJLFG@Z JFG MLJLFG@Z @R]@XLFX@Z X@JFD@GMIMIZ @G Q@XIGF Jlpmim
]`du`xi}pxi ³J
Bpd`mim x`oi}lqi
Qixlijlúg mlixli m` oi }`du`xi}pxi "@rjpxzlúg }ìxdlji @],
Dpxjli
:1
0<
9=
Fx`gz`
:1
1:
$
Fql`mf
82
10
$
Uio`gjli
:=
=5
91
Uiodi Dioofxji
82
15
2
Uiduofgi
:8
09
98
Zioidigji
:=
=1
92
Zig}igm`x
80
>=
>
Z`nfqli
::
:1
9>
Z`qlooi
=5
=:
92
]ixxinfgi
81
10
>
]fo`mf
:=
:=
91
Qio`gjli
:8
12
99
Qiooimfolm
::
=0
9:
Sidfxi
:8
10
92
Sixinfsi
:=
0<
9=
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JFGMLJLFG@Z M@ UXF\@J]F' Jfgmljlfg`z lg}`xlfx`z Uixi dig}`g`x `o joldi m` hl`g`z}ix f jfgafx} `g `o lg}`xlfx m`o ofjio/ z` g`j`zl}i yp` bi|i pgfz m`}`xdlgimfz qiofx`z m` }`du`xi}pxi | bpd`mim x`oi}lqi' @g n`g`xio/ z` jfgzlm`xi yp` bi| pg idhl`g}` jfgafx}iho` jpigmf oi }`du`xi}pxi `z}é jfdux`gmlmi jfdux`gmlmi `g}x` `g}x` 8=³ | 81 µJ | oi bpd`mim bpd`mim x`oi}lqi x`oi}lqi `g}x` `o 05 | `o 15 %'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JFGMLJLFG@Z M@ UXF\@J]F' Bfxi zfoix @o jéojpof m` oi jixni }ìxdlji gf `z `o dlzdf i mla`x`g}`z bfxiz m`o mäi' N`g`xiod`g}`/ z` `oln` jfdf x`a`x`gjli oi }`du`xi}pxi yp` bi| i oiz 90/ bfxi zfoix' I f}xiz bfxiz bihxé yp` }`g`x `g jp`g}i oiz jfxx`jjlfg`z lgmljimiz `g oi }ihoi :' ]IHOI :' JFXX@JJLÚG M@ OI ]@DU@XI]PXI @R]@XLFX Qixlijlúg mlixli m` oi }`du`xi}pxi ] "@rjpxzlúg }ìxdlji @], "³J,
Jfxx`jjlúg `g ³J 98
9=
90
91
0
$8 / 0
$5'0
5
$5/0
>/0
$: / 5
$5/0
5
$5/0
95
$: / 5
$5/0
5
$5/0
98/0
$: / 5
$5/0
5
$5/0
90
$: / 5
$5/0
5
$5/0
9>/0
$: / 0
$5/0
5
$5/0
Bfxi zfoix
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JFGMLJLFG@Z M@ UXF\@J]F' Zpufgnidfz pgi ofjiolmim `g oi yp` oi }`du`xi}pxi `r}`xlfx m` uxf|`j}f z`i := µJ/ oi `rjpxzlúg }ìxdlji mlixli m` 95 µJ | oi bfxi zfoix m` uxf|`j}f oiz 98' Jfg `z}fz mi}fz z` ofjiolsi `g oi }ihoi : `o qiofx m` jfxx`jjlúg $:' Izä up`z/ oi }`du`xi}pxi `r}`xlfx `r}`xlfx i oiz 98 b `z := $ : 4 :9 µJ' @g `o mlinxidi uzljxfdì}xljf bi| yp` zl}pix ofz upg}fz jfxx`zufgml`g}`z i oiz jfgmljlfg`z `r}`xlfx`z ` lg}`xlfx`z m` uxf|`j}f/ u`xf p}lolsigmf oi }`du`xi}pxi `r}`xlfx i oi bfxi jfgzlm`ximi/ gf oi }`du`xi}pxi `r}`xlfx m` uxf|`j}f' Pgi q`s zl}pimfz ofz upg}fz/ z` fh}l`g`g oiz bpd`mim`z ihzfop}iz `g n&kn m`o `r}`xlfx | m`o lg}`xlfx lg}`xlfx''
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I9' Jiofx m`hlmf i oi ximlijlúg i }xiqìz m` oiz zpu`xaljl`z ijxlz}ioimiz "q`g}igiz/ joixihf|iz f opj`xgixlfz,' @z}i uix}lmi }l`g` `g jp`g}i oi `g`xnäi yp` oo`ni io ofjio uxfj`m`g}` m` oi ximlijlúg zfoix yp` i}xiql`zi `o`d`g}fz }xigzuix`g}`z i oi ximlijlúg "jxlz}io`z m` q`g}igiz/ joixihf|iz/ `}j',' Uixi jiojpoix `z}i uix}lmi/ bi| yp` zih`x oi fxl`g}ijlúg m` oi q`g}igi | `o`nlx pgi bfxi zfoix m` jéojpof "n`g`xiod`g}` "n`g`xiod`g} ` `g}x` oiz 98 | oiz 91 bfxi zfoix, | pg mäi m`}`xdlgimf "n`g`xiod`g}` `z `o 8: m` cpolf f `o 8= m` infz}f,' Jfg `z}fz mi}fz z` ijpm` i oi }ihoi = | z` fh}l`g` oi ximlijlúg zfoix pgl}ixli/ X/ `g ^&d8' Oi bfxi zfoix `o`nlmi m`h` z`x oi dlzdi uixi `o jéojpof m` }fmi oi jixni }ìxdlji'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I9 ]IHOI =' Ximlijlúg zfoix X/ `g ^&d8/ i }xiqìz m` qlmxlf fxmlgixlf/ uixi 9d8 m` q`g}igi lgjop|`gmf `o dixjf/ `g pg upg}f i =5µ m` oi}l}pm Gfx}`' Gf}i' Zl oi q`g}igi }l`g` dixjf d`}éoljf bi| yp` dpo}luoljix ufx 9/9>ofz qiofx`z lgmljimfz `g oi }ihoi'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I9 Zl z` p}lolsig qlmxlfz `zu`jlio`z f u`xzligiz/ bi| yp` iuoljix ofz aij}fx`z m` jfxx`jjlúg m` oiz }ihoiz 0 | 1/ x`zu`j}lqid`g}`'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I9 @o jiofx m`hlmf i oi ximlijlúg `z z`gzlho` | of ooidix`dfz Y ZX/ qiomxé3
YZX 4 Z X a
Mfgm`3 Z 4 zpu`xaljl` `g d`}xfz jpimximfz m`o bp`jf m` oi q`g}igi lgjoplmfz `o dixjf | ofz olz}fg`z/ gf zúof oi m`o qlmxlf' X 4 ximlijlúg zfoix pgl}ixli' a 4 uxfmpj}f m` }fmfz ofz aij}fx`z m` jfxx`jjlúg i yp` bphl`xi opnix' opnix'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' Jiofx m`hlmf i oi ximlijlúg | }xigzdlzlúg i }xiqìz m` zpu`xaljl`z fuijiz "uix`m`z | }`jbf `r}`xlfx`z,'
• Oi }xigzdlzlúg m` jiofx i }xiqìz m` oiz `z}xpj}pxiz `r}`xlfx`z m` ofz `mlaljlfz "dpxfz | }`jbfz, `z m`hlmi ufx pg oimf i oi mla`x`gjli m` }`du`xi}pxiz `g}x` `o `r}`xlfx | `o lg}`xlfx | ufx f}xf ufx oi ximlijlúg zfoix ihzfxhlmi ufx ofz uixid`g}fz `r}`xlfx`z' •Oiz qixlijlfg`z jäjoljiz m` oi ximlijlúg | m` oiz }`du`xi}pxiz `r}`xlfx`z | oi jfduo`clmim m` ofz a`gúd`gfz yp` lg}`xql`g`g `g oi }xigzdlzlúg m` jiofx big fholnimf i imfu}ix oiz ooidimiz (Mla`x`gjli m` ]`du`xi}pxiz @yplqio io` `g} g}` `z( " ]`y, y,''
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' • Mla`x`gjli @yplqio`g}` m` ]`du`xi}pxi3 ]`du`xi}pxi3 @z pg zio}f }ìxdljf alj}ljlf/ `g}x` `o lg}`xlfx | `o `r}`xlfx/ yp` u`xdl}` jiojpoix oi jixni }ìxdlji }ìxdlji jfg oi `rux`zlúg `rux`z lúg joézlji m` }xigzdlzlúg m` jiofx3
Y Z]X
4
KZ∁] `y
•Mfgm`3 •K `z `o jf`aljl`g}` m` }xigzdlzlúg m` oi uix`m f
}`jbf/ jiojpoimf jfdf z` lgmlji `g `o ig`rf LL m` oi gfxdi GH@$J]&><' •Z `z oi zpu`xaljl` m` oi uix`m "zl bi| pgi up`x}i z`
lgjop|` oi up`x}i, •∁ ] ]`y `y `z oi mla`x`gjli `yplqio`g}` m` }`du`xi}pxi'
Z` }xi}i m` pg zio}f }ìxdljf jfxx`nlmf uixi }`g`x `g jp`g}i `o `a`j}f m` oi ximlijlúg'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' • Uixi zih`x oi ∁ ] ]`y `y "}idhlìg m`gfdlgimi M]@ f mla`x`gjli mla`x`gjli m` }`du`xi}pxiz `yplqio`g}`, m` pgi uix`m/ z` `duo`ig }ihoiz' Z` g`j`zl}i zih`x3 ‚ Oi fxl`g}ijlúg m`o dpxf f uix`m' ‚ @o uxfmpj}f m` oi m`gzlmim ufx `o `zu`zfx "M@, m`o dpxf' ‚ Oi bfxi zfoix m` uxf|`j}f'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' Mla`x`gjli m` }`du`xi}pxiz `yplqio`g}` ]`y m` uix`m`z Fxl`g}ijlúg m` oi uix`m
G@
@
Z@
M@ kn&d8
Bfxi zfoix 98
9:
9=
90
91
955
>/=
1/<
1/=
1/<
>/=
:55
95/2
2/9
0/:
0/2
1/=
055
2/0
2/9
>/=
1/=
0/:
>55
:
0/:
>/=
2/0
>/=
955
9>/=
95/2
1/=
1/<
>/=
:55
91/<
95/8
>/=
1/<
1/=
055
9:/9
9:/1
9:/9
95/2
>
>55
0/:
2/9
>
95/8
>
955
90/8
9=/9
9:/9
95/8
2/0
:55
90/8
9=/9
9:/1
99/:
>
055
2/0
8
>
95/8
>
>55
:
0/2
>/=
29
2/0
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' Mla`x`gjli m` }`du`xi}pxiz `yplqio`g}` ]`y m` uix`m`z Fxl`g}ijlúg m` oi uix`m
Z
ZF
F
M@ kn&d8
Bfxi zfoix 98
9:
9=
90
91
955
99/<
9=/>
91/=
90/8
9=/9
:55
1/=
95/2
9:/9
9:/1
9=/9
055
9/<
=/9
1/=
2/9
2/0
>55
9/<
9/<
9/<
:/1
0/:
955
:
95/8
9=/9
92/1
89/<
:55
5/2
=/8
1/=
9:/9
9>/0
055
:
:/1
=/8
1/=
>/=
>55
:
:
:
:/1
=/8
955
:
>/=
95/2
9>/0
89/<
:55
9/<
:/1
0/:
95/8
9=/9
055
:
:/1
=/:
0/:
1/=
>55
=/8
=/>
0/:
0/:
0/:
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8'
Mla`x`gjli m` }`du`xi}pxiz `yplqio`g}` ]`y m` uix`m`z Fxl`g}ijlúg m` oi uix`m
GF
G
M@ kn&d8
Bfxi zfoix 98
9:
9=
90
91
955
:
0/:
1/=
95/8
9:/9
:55
5/2
:
=/8
0/:
1/=
055
9/<
9/<
9/<
8/0
:
>55
:
:
:
:
:
955
9/<
=/8
0/:
1/=
>/=
:55
$5/:
9/:
:
=/8
0/:
055
$5/:
5/8
5/2
9/:
9/<
>55
$5/:
$5/:
$5/:
5/8
5/2
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' • Uixi zih`x oi ∁ ] ]`y `y m`o }`jbf/ z` `duo`i `duo`i oi }ihoi 2' Z` g`j`zl}i g`j`zl}i zih`x3 ‚ Zl `o }`jbf `z zfo`imf f `g zfdhxi' ‚ @o uxfmpj}f m` oi m`gzlmim ufx `o `zu`zfx "M@, m`o dpxf dpxf'' ‚ Oi bfxi zfoix m` uxf|`j}f'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' • @z}` qiofx m` ∁ ] ]`y `y fh}`glmf m` oiz }ihoiz ig}`xlfx`z gf `z `z `o m`algl}lqf' • @g oi }ihoi m` oi uénlgi zlnpl`g}`/ `g apgjlúg m` oi qixlijlúg f `rjpxzlúg }ìxdlji mlixli | `o zio}f }ìxdljf/ z` mig pgfz qiofx`z yp` z` zpdixég f x`z}ixég/ z`nóg `o zlngf/ io qiofx m` oi ∁ ] ]`y `y fh}`glmf ig}`z' • @z}` gp`qf qiofx `z `o m`algl}lqf'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' Jfxx`jjlúg m` oi mla`x`gjli m` }`du`xi}pxiz `yplqio`g}`
]`y
Qixlijlúg mlixli m` oi }`du`xi}pxi "@rjpxzlúg }ìxdlji @],
]`du`xi}pxi `r}`xlfx d`gfz }`du`xi}pxi lg}`xlfx }
=
0
1
>
2
<
95
99
98
9:
9=
90
91
:
$9/0
$8
$8/0
$:
$:/0
$=
$=/0
$0
$0/0
$1
$1/0
$>
$>/0
=
$5/0
$9
$9/0
$8
$8/0
$:
$:/0
$=
$=/0
$0
$0/0
$1
$1/0
0
5/0
5
$5/0
$9
$9/0
$8
$8/0
$:
$:/0
$=
$=/0
$0
$0/0
1
9/0
9
5/0
5
$5/0
$9
$9/0
$8
$8/0
$:
$:/0
$=
$=/0
>
8/0
8
9/0
9
5/0
5
$5/0
$9
$9/0
$8
$8/0
$:
$:/0
2
:/0
:
8/0
8
9/0
9
5/0
5
$5/0
$9
$9/0
$8
$8/0
<
=/0
=
:/0
:
8/0
8
9/0
9
5/0
5
$5/0
$9
$9/0
95
0/0
0
=/0
=
:/0
:
8/0
8
9/0
9
5/0
5
$5/0
99
1/0
1
0/0
0
=/0
=
:/0
:
8/0
8
9/0
9
5/0
98
>/0
>
1/0
1
0/0
0
=/0
=
:/0
:
8/0
8
9/0
9:
2/0
2
>/0
>
1/0
1
0/0
0
=/0
=
:/0
:
8/0
9=
0
<
2/0
2
>/0
>
1/0
1
0/0
0
=/0
=
:/0
90
95/0
95
0
<
2/0
2
>/0
>
1/0
1
0/0
0
=/0
91
99/0
99
95/0
95
0
<
2/0
2
>/0
>
1/0
1
0/0
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' @C@DUOF 93 Dpxf m` fxl`g}ijlúg Z@/ jfg M@ 4 055 kn&d8/ i oiz 9= bfxi zfoix/ jfg pg zio}f }ìxdljf m` > µJ | pgi @] m` 9= µJ' Biooix oi ∁]`y' ZFOPJLÚG3 >/8 µJ'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I8' • @o qiofx m`o jf`aljl`g}` m` }xigzdlzlúg K m`u`gm` m` oi jfdufzljlúg | `zu`zfx m` oiz mla`x`g}`z jiuiz | di}`xlio`z yp` jfdufg`g oi uix`m f `o }`jbf' • Zl gf z` jfgfj` `o qiofx `rij}f m` `z}` jf`aljl`g}`/ up`m`g }fdixz` ofz zlnpl`g}`z qiofx`z m` afxdi jip}`oix3
K ^&" d8 ⋀ K, Uix`m`z `r}`xlfx`z
9/0 i 9/2
]`jbfz ] `jbfz `r}`xlfx`z `r}`xlfx`z
9/5 i 9/8
Uix`m`z lg}`xlfx`z
9/< i 8/:
Qlmxlf fxmlgixlf
0/2
]ihlyp` ] ihlyp` z`uixijlúg z`uixijlúg
8/:
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I:' Jiofx m`hlmf i oi }xigzdlzlúg "zúof }xigzdlzlúg, i }xiqìz m` uix`m`z | }`jbf gf `r}`xlfx`z • Bi| yp` lgjoplx `g `z}i uix}lmi3 ‚ Uix`m`z lg}`xlfx`z ‚ ] ]`jbfz `jbfz lg}`xlfx`z' lg}`xlfx`z' ‚ Zp`ofz "zl`dux` zfg lg}`xlfx`z, ‚ Zpu`xaljl`z qlmxlimiz | joixihf|iz'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I:' • Zl z` }xi}i m` pgi uix`m f pg }`jbf jfolgmig}` jfg pg ofjio x`axln`ximf/ `z}i uix`m f }`jbf gf z` jp`g}i' • Zl zfg jfolgmig}`z jfg pg ofjio gf x`axln`ximf/ `o zio}f }ìxdljf yp` z` p}lolsi z` x`hici `g :³J'
Oiz up`x}iz n`g`xiod`g}` gf z` jp`g}ig; zp zpu`xaljl` z` lgjop|` `g oi m` oi uix`m' @z}` jiofx/ yp` `z z`gzlho` }idhlìg/ of ooidix`dfz YZ]' Z` jiojpoi d`mlig}` oi `rux `rux`zlúg3 `zlúg3
Y Z]
4
KZ∁}
Mfgm`3 •K `z `o jf`aljl`g}` nofhio `g ^&" d8 ⋀ µK, • Z `z oi zpu`xaljl` m`o `o`d`g}f `g d8' •∁} `z `o zio}f }ìxdljf `g ³J'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I=' Jiofx z`gzlho` m`hlmf io ilx` m` lgalo}xijlfg`z
• @o ofjio yp` z` ijfgmljlfgi m`h` `z}ix `r`g}f m` `g}ximiz `g}ximiz m` ilx` jiol`g}` j iol`g}` m`o `r}`xlfx' Zlg `dhixnf/ jpigmf z` ihx`g up`x}iz f q`g}igiz/ f hl`g i }xiqìz m` oiz alzpxiz/ `z lg`ql}iho` yp` ionf m` ilx` `r}`xlfx `g}x` `g `o ofjio'
• @o jiofx z`gzlho` m`hlmf i oiz lgalo}xijlfg`z/ Y z` jiojpoi d`mlig}` oi ZL
`rux`zlúg3
• Zl`gmf3
Y ZL
4
∁} 5/::Q l
‚ Ql4 qfopd`g m` lgalo}xijlúg `g d:&b' } 4 zio}f }ìxdljf `g µJ'
• Uixi qiofxix oi jig}lmim m` ilx` yp` `g}xi ufx oiz up`x}iz up`m` p}lolsixz` oi }ihoi m` oi uénlgi zlnpl`g}`/ }`gl`gmf ux`z`g}` yp` `o mi}f fh}`glmf `g `z}i }ihoi `z ufx up`x}i | ufx u`xzfgi'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I=' Ilx` m` lgalo}xijlfg`z `g d :&b ufx u`xzfgi | ufx up`x}i Qfopd`g Ql d:&b ufx u`xzfgi | up`x}i ]luf ofjio
Zlg q`z}ähpof
Jfg q`z}ähpof
Higjfz
9:/0
95/8
U`opyp`xäiz
2/0
1/0
Hix`z
98
<
@z}igjfz
09
:2
U`yp`ùfz jfd`xjlfz
9:/1
95/8
]l`gmi m` jfga`jjlfg`z jfga`jjlfg`z
=/:
:/8
Aixdijliz
99/<
<
1
=/=
Zioi m` }ì
2/0
1/0
X`z}ipxig}`
=/:
:/8
1
=/=
Bihl}ijlúg bfzul}io
Jfd`xjlf `g n`g`xio
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I0' Jiofx z`gzlho` n`g`ximf ufx oiz u`xzfgiz yp` fjpuig `o ofjio • Oiz u`xzfgiz yp` fjpuig `o x`jlg}f n`g`xig jiofx z`gzlho` | jiofx oi}`g}` m`hlmf i oi ij}lqlmim yp` x`iolsig | i yp` zp }`du`xi}pxi "pgfz :>³J, `z di|fx yp` oi yp` m`h` dig}`g`xz` `g `o ofjio' • @o jiofx z`gzlho` n`g`ximf ufx oiz u`xzfgiz yp` fjpuig `o ofjio/ Y z` jiojpoi d`mlig}` oi `rux` `rux`zlúg3 zlúg3 ZU
• Mfgm`
Y ZU
g ³ u`xzfgiz 4Y Z9
‚ Y 4 Jiofx z`gzlho` `dl}lmf ufx pgi u`xzfgi' Z` fh}l`g` `g oi }ihoi m` oi uénlgi zlnpl`g}`/ z`nóg oi }`du`xi}pxi m`o ofjio | `o }luf m` ij}lqlmim yp` x`iolj` oi n`g}` m`o ofjio' Z9
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I0'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I1' Jiofx n`g`ximf ufx oi lopdlgijlúg m`o ofjio • Oi lopdlgijlúg uxfmpj` jiofx z`gzlho` yp` bi| yp` }`g`x `g jp`g}i' • Zl oi lopdlgijlúg `z lgjigm`zj`g}`3 ‚ Y 4 uf}`gjli `oìj}xlji m` lopdlgijlúg • Zl oi lopdlgijlúg `z aopfx`zj`g}`3 ‚ Y 4 uf}`gjli `oìj}xlji m` lopdlgijlúg r 9/80 ZLO
ZLO
• @z pzpio }fdix m` 95 i 80 ^&d m` zpu`xaljl` 8
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmiz I> Jiofx n`g`ximf ufx déyplgiz | I2 Jiofx n`g`ximf ufx jpioypl`x f}xi ap`g}` m` jiofx' • @g oi di|fx uix}` m` joldi}lsijlfg`z m` qlql`gmiz/ faljlgiz f ofjio`z zldloix`z gf `gjfg}xix`dfz oiz uix}lmiz I> "jiofx n`g`ximf ufx déyplgiz, gl oi I2 "jpioypl`x f}xi ap`g}` m` jiofx gf jfgzlm`ximi,' Ufx of }ig}f/ uizix`dfz mlx`j}id`g}` mlx`j}id`g}` io `z}pmlf m` oi jixni oi}`g}`'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Oi}`g}`3 Uix}lmi H9' Jiofx oi}`g}` m`hlmf io ilx` m` lgalo}xijlfg`z • @o jiofx oi}`g}` m`hlmf i oiz lgalo}xijlfg`z/ Y z` jiojpoi d`mlig}` oi `rux`zlúg3 OL
• Zl`gmf3
Y OL
4
∁^ 5/2=Q
‚ Ql 4 jipmio m` lgalo}xijlfg`z `g d:&b' ∁^ 4 mla`x`gjli mla`x`gjli m` oiz bpd`mim`z ihzfop}iz/ ihzfop}iz/ `g n &kn / m`o ilx` `r}`xlfx m`o ofjio d`gfz oi m`o lg}`xlfx m`o ofjio' @z}iz bpd`mim`z ihzfop}iz z` fh}l`g`g d`mlig}` `o mlinxidi uzljxfdì}xljf' ~
i
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Oi}`g}`3 Uix}lmi H8' Jfofx oi}`g}` n`g`ximf ufx oiz u`xzfgiz yp` fjpuig `o ofjio • @z}i uix}lmi `z dp| zldloix i oi I0' • @o jiofx oi}`g}` n`g`ximf ufx oiz u`xzfgiz yp` fjpuig `o ofjio/ Y z` jiojpoi d`mlig}` oi `rux` `rux`zlúg3 zlúg3 OU
Y OU
g ³ u`xzfgiz 4Y O9
• Mfgm` ‚ Y 4 Jiofx oi}`g}` `dl}lmf ufx pgi u`xzfgiz' Z` fh}l`g` `g oi }ihoi m` oi uix}lmi I0/ z`nóg oi }`du`xi}pxi m`o ofjio | `o }luf }l uf m` ij}lqlmim yp` x`iolj` oi n`g}` m`o ofjio' O9
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Oi}`g}`3 Uix}lmi H:' Jiofx oi}`g}` uxfmpjlmf ufx jpioypl`x f}xi jipzi • Oi uix}lmi H:/ jiofx oi}`g}` uxfmpjlmf ufx jpioypl`x f}xi jipzi/ }l`g` `o dlzdf zlnglaljimf yp` oi I2'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jéojpof m` oiz jixniz z`gzlho` | oi}`g}` }f}io' • Oi jixni z`gzlho` }f}io/ Y z`xé3 Z
Y Z
+ Y + Y + Y + Y Y 4Y + ZX Z]X Z] ZL ZU ZLO
• Oi jixni oi}`g}` }f}io/ Y z`xé3 O
Y O
+ Y 4Y OL OU
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Z`gzlho`3 Uix}lmi I<' Jiofx z`gzlho` uxfj`m`g}` m`o ilx` m` q`g}loijlúg • @z}i uix}lmi oi m`zlngix`dfz ufx Y `g ^ | z` fh}l`g` iuoljigmf oi aúxdpoi3 ZQ
Y ZQ
4
∁} 5/::a Q Q
• Mfgm`3 ‚ Q `z `o jipmio qfopdì}xljf m` q`g}loijlúg "ilx` `r}`xlfx zlg }xi}idl`g}f, `g d:&b "qìiz` oi }ihoi m` g`j`zlmim`z m` q`g}loijlúg,' ∁} `z `o zio}f }ìxdljf }ì xdljf `g µJ' ‚ a `z pg jf`aljl`g}` m` oi hi}`xäi m` x`axln`xijlúg/ ooidimf aij}fx m` h|$uizz' Q
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni Oi}`g}`3 Uix}lmi H=' Jiofx oi}`g}` uxfj`m`g}` m`o ilx` m` q`g}loijlúg • @z}i uix}lmi `z oi oi}`g}` jfxx`zufgml`g}` io ilx` m` q`g}loijlúg' Z` jiojpoi jfg pgi aúxdpoi igéofni3
Y OQ
4
∁^ 5/2=a Q Q
• Mfgm`3 ‚ Y `z oi m`gfdlgijlúg m` `z}i uix}lmi `g ^' ‚ Q `z `o jipmio m` q`g}loijlúg "ilx` `r}`xlfx zlg }xi}idl`g}f, `g d:&b' ∁^ 4 mla`x`gjli m` oiz bpd`mim`z ihzfop}iz/ `g n &kn / m`o ilx` `r}`xlfx m`o ofjio d`gfz oi m`o lg}`xlfx m`o ofjio' @z}iz bpd`mim`z ihzfop}iz z` fh}l`g`g d`mlig}` `o mlinxidi uzljxfdì}xljf' ‚ a `z `o aij}fx m` h|$uizz m` oi hi}`xäi' OQ
Q
~
i
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jéojpof m` oiz jixniz }f}io`z' • @g uxld`x opnix z` jiojpoig oiz jixniz `a`j}lqiz uixjlio`z | op`nf oiz }f}io`z/ jfdf q`x`dfz i jfg}lgpijlúg'
Jixni z`gzlho` `a`j}lqi uixjlio | jixni oi}`g}` `a`j}lqi uixjlio • Oi jixni z`gzlho` `a`j}lqi uixjlio/ Y Z@U `z oi jixni z`gzlho` }f}io/ Y Z/ déz oi uix}lmi I `z m`jlx3 Y Z@U 4 Y Z + Y ZQ • Oi jixni oi}`g}` `a`j}lqi uixjlio/ Y O@U/ `z oi jixni oi}`g}` }f}io/ YO/ déz oi uix}lmi H=/ `z m`jlx3
Y O@U
+ Y 4Y O OQ
• Z` p}lolsi oi m`gfdlgijlúg uixjlio ufxyp` gf z` bi jfgzlm`ximf glgnóg aij}fx m` z`npxlmim ipd`g}i}lqf
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Jixni z`gzlho` `a`j}lqi }f}io Y | oi}`g}` `a`j}lqi }f}io Y Z@
O@
• Zfg oiz ig}`xlfx`z uixjlio`z/ ipd`g}imiz `g pg }ig}f ufx jl`g}f m` z`npxlmim/ jfg `o alg m` iz`npxixgfz m` bih`x jiojpoimf }fmiz oiz ufzlhlolmim`z m` uxfmpjjlúg ` lgnx`zf m` jiofx `g `o ofjio' @z ux`a`xlho` jiojpoix oi jixni }ìxdlji/ oln`xid`g}` ufx `rj`zf yp` ufx m`a`j}f' • Pzpiod`g}` z` jfgzlm`xi m` pg 0 i pg 95% m` ipd`g}f' Gfzf}xfz uxfufg`dfz pg 95 %' Izä up`z/
Y Z@
, " 5 / 9 # Y 4Y + Z@U Z@U
Y O@
, " 5 / 9 # Y 4Y + O@U O@U
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Bfci m` jixni'
• Jfg `o alg m` zlduolaljix | xijlfgiolsix ofz jéojpofz m` oi jixni }ìxdlji/ ìz}fz z` mlzufg`g `g pgi bfci/ mfgm` oiz uix}lmiz z` jiojpoig dp| aéjlod`g}` ufxyp` |i ql`g`g lgmljimfz ofz jfgj`u}fz yp` z` g`j`zl}ig/ `g oiz jizlooiz jfxx`zufgml`g}`z' Gf `rlz}` pg dfm`of ógljf/ ipgyp` zfg }fmiz dp| zldloix`z' @g oi alnpxi zlnpl`g}` z` ux`z`g}i pg dfm`of'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI BFCI M@ JÉOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG
MI]FZ N@G@XIO@Z Zpu`xaljl` m`o ofjio
d8
Fjpuijlúg
u`xzfgiz
Q`g}loijlúg
d:&u`xzfgi b r
Lgalo}xijlfg`z
d:&b
]`du`xi}pxi `r}`xlfx
³J
Bpd`mim x`oi}lqi `r}`xlfx
%
]`du`xi}pxi lg}`xlfx
³J
Bpd`mim x`oi}lqi lg}`xlfx Mla`x`gjli }`du`xi}pxiz
]luf m` ofjio u`xzfgiz
ihzfop}i
n&kn
%
Bpd`mim lg}`xlfx
ihzfop}i
n&kn
³J
Mla`x`gjli
Bfxi zfoix m` jéojpof Ofjiolmim
Lopdlgijlúg
d:&b
Bpd`mim `r}`xlfx
D`z m` jéojpof Oi}l}pm
@rjpxzlúg }ìxdlji mlixli
4
³J
Aopfx`zj`g}`
k^
Lgjigm`zj`g} `
k^
n&kn
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI XIMLIJLÚG ZPU@XALJL@Z IJXLZ]IOIMIZ Zpu`xaljl` "d8,
Ximlijlúg pgl}ixli "kjio&bd8,
Aij}fx`z m` i}`gpijlúg
Q`g}igiz
r
r
Q`g}igiz
r
r
Q`g}igiz
r
r
Q`g}igiz
r
r
Joixihf|i
r
r
XIMLIJLÚG \ ]XIGZDLZLÚG ZPU@XALJL@Z FUIJIZ "Uix`m`z `r}`xlfx`z | }`jbf, Zpu`xaljl` "d8,
Jf`aljl`g}` m` }xigzdlzlúg "kjio&bd8³J,
]`y `y ∁ ]
Uix`m
r
r
Uix`m
r
r
Uix`m
r
r
Uix`m
r
r
]`jbf ] `jbf
r
r
]`jbf ] `jbf
r
r
"³J,
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI
]XIGZDLZLÚG ]XIGZ DLZLÚG "Q`g}igiz/ "Q`g}igiz/ uix`m`z uix`m`z lg}`xlfx`z | zp`of, Zpu`xaljl` "d8,
Jf`aljl`g}` m` }xigzdlzlúg "kjio&bd8³J,
∁}
Q`g}igiz
r
r
Uix`m lg}`xlfx
r
r
Uix`m lg}`xlfx
r
r
Uix`m lg}`xlfx
r
r
Uix`m lg}`xlfx
r
r
Uix`m lg}`xlfx
r
r
Zp`of
r
r
"³J,
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI LGALO]XIJLFG@Z Jipmio d:&b
∁}
Ilx` m` lgalo}xijlúg
"³J,
r
r
5/8<
Q@G]LOIJLÚG Jipmio d:&b
∁}
Ilx` m` q`g}loijlúg
r
Aij}fx m` h|$uizz
"³J, r
r
5/8<
JIXNI Z@GZLHO@ LG]@XLFX k^ Lopdlgijlúg lgjigm`zj`g}`
r
Lopdlgijlúg aopfx`zj`g}`
215 r 980
Jiofx z`gzlho` ufx u`xzfgi kjio&b U`xzfgiz F}xiz ap`g}`z
215
Gód`xf m` u`xzfgiz
r
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI @c`duof 9' • Z` }xi}i m` jiojpoix oi jixni }ìxdlji m` x`axln`xijlúg m` pg ofjio m`z}lgimf i faljlgiz jp|iz mld`gzlfg`z zfg :5 d m` oixnf ufx 95 d m` igjbf/ jfg pgi io}pxi m` = d' • @o ofjio `z}é zl}pimf `g Hixj`ofgi "=9³ m` oi}l}pm,' Oiz uix`m`z Z | @ mig io `r}`xlfx; `o jf`aljl`g}` M@ "m`gzlmim r `zu`zfx, qio` :55 kn&d 8 uixi idhiz uix`m`z' @o jf`aljl`g}` m` }xigzdlzlúg `z m` 9/= "^&d 8K,' Oiz uix`m`z G | F zfg lg}`xlfx`z | d`mlig`xiz jfg ofjio`z gf x`axln`ximfz' @o zp`of | `o }`jbf zfg d`mlig`xfz jfg ofjio`z x`axln`ximfz' • @g oi uix`m Z bi| mfz q`g}igiz m` 95 r 8/0 d8 jimi pgi/ jfg dixjf d`}éoljf | qlmxlf ihzfxh`g}` pg 15% m` oi ximlijlúg zfoix' zfoix' @o jf`aljl`g}` m` 8 }xigzdlzlúg m`o qlmxlf `z m` 0 "kjio&b ⋀d ⋀³J,' @o jf`aljl`g}` m` }xigzdlzlúg m` oiz uix`m`z lg}`xlfx`z `z m` 9/1 "kjio&b ⋀d8 ⋀³J,' • Z` jfgzlm`xixé pgi fjpuijlúg d`mli m` 88 u`xzfgiz' Oi lopdlgijlúg `z aopfx`zj`g}`/ jfg pgi uf}`gjli `oìj}xlji m` 0 k^' Z` ulm` m`}`xdlgix oi jixni }ìxdlji z`gzlho` `a`j}lqi | oi}`g}` `a`j}lqi/ pg mäi 8: m` cpolf i oiz 90 bfxi zfoix' zfoix' Up`m`g p}lolsixz` oiz }ihoiz m` ximlijlúg yp` jfxx`zufgm`g i =5µ m` oi}l}pm gfx}` "qéolmiz uixi oi U`gägzpoi Lhìxlji,
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI @c`duof 9'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jfgmljlfg`z m` uxf|`j}f Ofz mi}fz x`oi}lqfz i oi }`du`xi}pxi `r}`xlfx/ `r}`xlfx/ bpd`mim x`oi}lqi `r}`xlfx | bpd`mim ihzfop}i/ izä jfdf oi `rjpxzlúg p fzjloijlúg }ìxdlji mlixli / up`m`g fh}`g`xz` i uix}lx m` oi }ihoi m` jfgmljlfg`z `r}`xlfx`z m` mlz`ùf uixi q`xigf m` oi PG@955'559&598'
Uixi jiojpoix `o ilx` m` q`g}loijlúg z` p}lolsixé oi }ihoi m` g`j`zlmim`z m` q`g}loijlúg/ `g oi jfopdgi m` «ijfgz`cimf «ijfgz`cimf»' »' G`j`zlmim`z m` q`g}loijlúg QQ m` mla`x`g}`z }lufz m` ofjio`z' ]luf m` ofjio
Faljlgiz
:
d &b ufx u`xzfgi Ijfgz`cimf
Dägldf
20
:0
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jfgmljlfg`z m` uxf|`j}f Zl}p`dfz `g `o mlinxidi uzljxfdì}xljf ofz upg}fz yp` jfxx`zufgm`g i oiz jfgmljlfg`z `r}`xlfx`z ` lg}`xlfx`z3
9
8
8=
8>/1
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jfgmljlfg`z m` uxf|`j}f Gf z` jfgzlm`xixég lgalo}xijlfg`z m` ilx` `r}`xlfx/ `r}`xlfx/ mimf yp` `o ofjio gf }l`g` up`x}iz `r}`xlfx`z' @o aij}fx m` h|$uizz m` oi hi}`xäi m` x`axln`xijlúg z` zpufgmxé m` a 4 5/:' Jfgmljlfg Jfgmlj lfg`z `z `r} `r}`xl `xlfx` fx`z3 z3 }9 48> 48>/1³ /1³J;BX J;BX941 9410% 0% | Jfgmljlfg`z Jfgmljlfg `z lg}`xlfx` lg}`xlfx`z3 z3 }8 4 8= µJ; BX8 4 15 % | jfg `z}f fh}`g`dfz oiz bpd`mim`z R9 4 90/9 n&kn/ | R8 4 99/8 n&kn @o zio}f }ìxdljf `z3 Ν} 4 8>/1$ 8= 4 :/1 µJ/ ufxyp` gf bi| jfxx`jjlúg m` }`du`xi}pxi `r}`xlfx `r}`xlfx ufx bij`xz` `o `z}pmlf i oiz 90 b "q`x "q `x }ihoi :, Oi mla`x`gjli m` bpd`mim`z3 ΝR 4 90/9 $ 99/8 4 :/< n&kn'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jfgmljlfg`z m` uxf|`j}f BFCI M@ JÉOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG
MI]FZ N@G@XIO@Z Zpu`xaljl` m`o ofjio
:55
d8
Fjpuijlúg
88
u`xzfgiz
Q`g}loijlúg
20
d:&u`xzfgi br
Lgalo}xijlfg`z
$$$$$
d:&b
]`du`xi}pxi `r}`xlfx
8>/1
³J
Bpd`mim x`oi}lqi `r}`xlfx
10
%
]`du`xi}pxi lg}`xlfx
8=
³J
Bpd`mim x`oi}lqi lg}`xlfx
15
Mla`x`gjli }`du`xi}pxiz
:/1
D`z m` jéojpof
8:
Bfxi zfoix m` jéojpof
90
Ofjiolmim
Lopdlgijlúg
Aopfx`zj`g Lgjigm`zj`g
88
u`xzfgiz
Faljlgiz 4
92>5 d:&b
Bpd`mim ihzfop}i `r}
90/9
n&kn
%
Bpd`mim ihzfop}i lg}
99/8
n&kn
³J
Mla`x`gjli
:/<
n&kn
Oi}l}pm
=9³
Cpolf b Hixj`ofgi
@rjpxzlúg }ìxdlji mlixli
]luf m` ofjio
2/=
³J
0
k^ k^
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I9' Jiofx m`hlmf i oi ximlijlúg i }xiqìz m` oiz zpu`xaljl`z ijxlz}ioimiz "q`g}igiz/ joixihf|iz f opj`xgixlfz,' Bi| mfz q`g}igiz fxl`g}imiz io Zpx jfg pgi zpu`xaljl` m` 95 r 8/0 + 95 r 8/0 4 05 d8 `g }f}io' Bi| pgi q`g}igi fxl`g}imi io @z}` jfg pgi zpu`xaljl` m` 1 r 8/0 4 90 d 8'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I9' Jiofx m`hlmf i oi ximlijlúg i }xiqìz m` oiz zpu`xaljl`z ijxlz}ioimiz "q`g}igiz/ joixihf|iz f opj`xgixlfz,' ◆
@g oi }ihoi m` ximlijlúg zfoix X fh}`g`dfz ofz qiofx`z pgl}ixlfz m` ximlijlúg3 8
8
Ximlijlúg zfoix X/ `g ^& d / i }xiqìz m` qlmxlf fxmlgixlf/ uixi 9 d m` q`g}igi lgjop|`gmf `o dixjf/ `g pg upg}f i =5³ m` oi}l}pm Gfx}`' Bfxi zfoix A`jbi
Fxl`g}ijlúg
98
9:
9=
90
91
8: m` cpolf
Z
89>
9<2
9:2
29
=9
@
==
==
==
=9
:=
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I9' Jiofx m`hlmf i oi ximlijlúg i }xiqìz m` oiz zpu`xaljl`z ijxlz}ioimiz "q`g}igiz/ joixihf|iz f opj`xgixlfz,' ◆
Z` fh}l`g` `o jf`aljl`g}` m` i}`gpijlúg/ ufx }xi}ixz` m` pg qlmxlf ihzfxh`g}`3 Jfxx`jjlúg z`nóg `o }luf m` qlmxlf
]luf m` qlmxlf
Qlmxlf ihzfxh`g}` % m` ihzfxjlúg
Aij}fx =5$=2
5/25
=2$01
5/>:
01$>5
5/18
Im`déz ufx z`x q`g}igiz jfg pg dixjf d`}éoljf/ z` }l`g` yp` dpo}luoljix ufx 9/9>' Izä up`z3 Y ZX
4
ZXa ZXa # 9/9> 4 ""05r29, + "90r=9,, r 5/18 r 9/9>
4
::2=^
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I8' Jiofx m`hlmf i oi ximlijlúg | }xigzdlzlúg i }xiqìz m` zpu`xaljl`z fuijiz "uix`m`z | }`jbf `r}`xlfx`z,' ◆
@o }`jbf gf z` }l`g` `g jp`g}i ufxyp` `z d`mlig`xf jfg pg ofjio x`axln`ximf; ufx of }ig}f/ gf `z `r}`xlfx | gf jp`g}i' Bi| pgi uix`m Zpx/ m` :5 r = 4 985 d 8/ m` ofz yp` bi| yp` m`zjfg}ix oiz q`g}igiz/ izä up`z/ 985 $ 05 4 >5 d 8'
Bi| pgi uix`m @z}`/ m` 95 r = 4 =5 d8/ m` ofz yp` m`zjfg}idfz oi q`g}igi =5 $ 90 4 80 d 8'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I8' Jiofx m`hlmf i oi ximlijlúg | }xigzdlzlúg i }xiqìz m` zpu`xaljl`z fuijiz "uix`m`z | }`jbf `r}`xlfx`z,' ◆
Z` hpzji `g oi }ihoi oiz mla`x`gjliz m` }`du`xi}pxi `yplqio`g}`z "Ν]`y, uixi jimi uix`m3 Mla`x`gjli m` }`du`xi}pxiz `yplqio`g}` Ν]`y m` uix`m`z Bfxi zfoix Fxl`g}ijlúg m` oi M@ 8 uix`m kn&d
98
9:
9=
90
91
Z
:55
1/=
95/2
9:/9
9:/1
9=/9
@
:55
91/ <
95/8
>/=
1/<
1/=
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I8' Jiofx m`hlmf i oi ximlijlúg | }xigzdlzlúg i }xiqìz m` zpu`xaljl`z fuijiz "uix`m`z | }`jbf `r}`xlfx`z,' ◆
Z` hpzji `g oi }ihoi oiz jfxx`jjlfg`z m` oi Ν]`y3 Jfxx`jjlúg m` oi mla`x`gjli m` }`du`xi}pxiz `yplqio`g}` Ν]`y Ν]`y ]`du`xi}pxi `r}`xlfx d`gfz }`du`xi}pxi lg}`xlfx Ν}
Qixlijlúg mlixli m` oi }`du`xi}pxi "@rjpxzlúg }ìxdlji @], =
0
1
>
2
<
95
99
98
9:
9=
90
91
:
$9/0
$8
$8/0
$:
$ : /0
$=
$=/0
$0
$0/0
$1
$1/0
$>
$>/0
=
$5/0
$9
$9/0
$8
$ 8 /0
$:
$:/0
$=
$=/0
$0
$0/0
$1
$1/0
Ν} 4 :/1 µJ/ @] 4 2/= µJ ↘ Ν]`y $ :/80
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I8' Jiofx m`hlmf i oi ximlijlúg | }xigzdlzlúg i }xiqìz m` zpu`xaljl`z fuijiz "uix`m`z | }`jbf `r}`xlfx`z,' ◆
Zpx3 Ν]`y 4 9:/1 $ :/80 4 95/:0 µJ
Izä up`z/ oiz Ν]`y zfg3
@z}`3 Ν]`y 4 1/< $ :/80 4 :/10 µJ @o jf`aljl`g}` m` }xigzdlzlúg m` idhiz uix`m`z `z3 K49/= ^&"d8K, Ufx }ig}f/ z` fh}l`g`3 Y Z]X
4
KZ∁] `y
4
9/="" >5 # 95/:0 , + " 80 # :/10 , , 4 99=8^
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I:' Jiofx m`hlmf i oi }xigzdlzlúg "zúof }xigzdlzlúg, i }xiqìz m` uix`m`z | }`jbf gf `r}`xlfx`z | qlmxlfz `r}`xlfx`z ◆
Iypä bi| yp` lgjoplx `o qlmxlf m` oiz q`g}igiz/ jfg pgi zpu`xaljl` m` 05 + 90 4 10 d8 | pg jf`aljl`g}` m` }xigzdlzlúg m` 0/2 ^& d 8K' X`jp`xm` yp` ig}`z }idhlìg z` bi jiojpoimf oiz q`g}igiz/ u`xf zúof `o jiofx yp` `g}xi ufx ximlijlúg uxfj`m`g}` m`o Zfo' Iypä z` jiojpoixé `o jiofx ufx jfgmpjjlúg i }xiqìz m`o qlmxlf/ m`hlmf i oi mla`x`gjli m` }`du`xi}pxiz `g}x` `o `r}`xlfx | `o lg}`xlfx' Z` }l`g` pgi uix`m lg}`xlfx m` 95 r = 4 =5 d 8 | f}xi m` :5 r = 4 985 d 8' @g idhiz uix`m`z z` big lgjoplmf oiz up`x}iz' Ofz jf`aljl`g}`z m` idhiz uix`m`z zfg lnpio`z | qio`g 9/21 ^& d 8K'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I:' Jiofx m`hlmf i oi }xigzdlzlúg "zúof }xigzdlzlúg, i }xiqìz m` uix`m`z | }`jbf gf `r}`xlfx`z | qlmxlfz `r}`xlfx`z ◆
Uixi `o qlmxlf z` bi jfgzlm`ximf pg zio}f }ìxdljf m` :/1 µJ/ u`xf oiz uix`m`z lg}`xlfx`z zfg d`mlig`xiz jfg x`jlg}fz yp` gf `z}ég x`axln`ximfz' @g `z}` jizf z` jfgzlm`xi pg zio}f }ìxdljf x`hicimf : µJ; izä3 :/1$ : 4 5/1 µJ'
Y Z] Q`g }ig iz Uix`m`z Y Z]
⇘ YZ] 4 q
⇘ YZ] 4
4
4
u
Y Z] q
KZ∁}
0/2 # 10 # :/1 4 9:0>/8^
9/21 # "=5 + 985, # 5/1 4 9>2/1^
+Y Z] 4 u
9:0>/8 + 9>2/1
4
90:0/2^
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I=' Jiofx z`gzlho` m`hlmf io ilx` m` lgalo}xijlfg`z
◆
@g `z}` uxfho`di gf z` bi jfgzlm`ximf ilx` m` lgalo}xijlfg`z' Fhz`xq` `o `zyp`di m` oi uoig}i | zp m`zjxlujlúg | q`xé yp` gf bi| up`x}iz `r}`xlfx`z' @qlm`g}`d`g}` bihxé ilx` m` lgalo}xijlfg`z u`xf/ `g `z}iz jlxjpgz}igjliz/ `z}i uix}lmi up`m` m`zux`jlixz`' Up`x}iz lg}`xlfx`z
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I0' Jiofx z`gzlho` n`g`ximf ufx oiz u`xzfgiz yp` fjpuig `o ofjio
◆
Jiofx Y9 `dl}lmf ufx oiz u`xzfgiz `g ^ Jpimxf m` 82³J ij}lqlmim Z`gzlho` Oi}`g}` Faljlglz}i 08 29 jfg ij}lqlmim dfm`ximi
Y ZU
4
8>³J Z`gzlho`
81³J
Oi}`g}`
02
Y 9 # g ³ u`xzfgiz
>1
4
Z`gzlho`
1=
8=³J
Oi}`g}`
>5
>5 # 88 4 90=5^
Z`gzlho`
>5
Oi}`g}`
02
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I1' Jiofx n`g`ximf ufx oi lopdlgijlúg m`o ofjio
◆
@g `o ofjio yp` z` z ` jfgzlm`xi bi| 0 k^ m` lopdlgijlúg aopfx`zj`g}`/ ufx of }ig}f3 Y ZLO
4
0555 # 9/80
4
1805^
Gf z` }`gmxég `g jp`g}i oiz uix}lmiz I> | I2 "déyplgiz | f}xiz ap`g}`z, | z` uizixé mlx`j}id`g}` i I<'
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx z`gzlho` I<' Jiofx z`gzlho` uxfj`m`g}` m`o ilx` m` q`g}loijlúg
◆
G`j`zlmim`z m` q`g}loijlúg QQ m` mla`x`g}`z }lufz m` ofjio`z' ]luf m` m` ofjio Faljlgiz
d:&b ufx u`xzfgi u`xzfgi Ijfgz`cimf
Dägldf
20
:0
@o mi}f m` oi }ihoi z` m`h` dpo}luoljix ufx `o g³ m` u`xzfgiz/ ufx }ig}f3 4 20 # 88 4 92>5d : & b Q Q
Z` zpufg` yp` `o aij}fx m` h|$uizz `z a45/:; `o jiofx z`gzlho` z`xé3 Y ZQ
4
∁} 4 5/:: # 5/: # 92>5 # :/1 4 111/0^ 5/::a Q Q
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx oi}`g}` H9' Jiofx oi}`g}` m`hlmf io ilx` m` lgalo}xijlfg`z
◆
Jfdf z` bi lgmljimf `g `o iuix}imf m`o jéojpof m` oi jixni z`gzlho`/ gf z` jfgzlm`xig lgalo}xijlfg`z/ ufx gf `rlz}lx up`x}iz `r}`xlfx`z
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx oi}`g}` H8' Jiofx oi}`g}` n`g`ximf ufx oiz u`xzfgiz yp` fjpuig `o ofjio
◆
Jiofx Y9 `dl}lmf ufx oiz u`xzfgiz `g ^ Jpimxf m` 82³J ij}lqlmim Z`gzlho` Oi}`g}` Faljlglz}i 08 29 jfg ij}lqlmim dfm`ximi
Y OU
4
8>³J Z`gzlho`
81³J
Oi}`g}`
02
Y 9 # g ³ u`xzfgiz
>1
4
Z`gzlho`
1=
02 # 88
4
8=³J
Oi}`g}`
>5
98>1^
Z`gzlho`
>5
Oi}`g}`
02
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jéojpof uix}lmiz jiofx oi}`g}` H=' Jiofx oi}`g}` uxfj`m`g}` m`o ilx` m` q`g}loijlúg
◆
Z` iuolji oi aúxdpoi Y OQ
4
∁^ 5/2=a Q Q
4
5/2= # 5/: # 92>5 # :/<
4
92:>/2^
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Zpdi m` uix}lmiz Oiz jixniz z`gzlho` | oi}`g}` }f}io`z z`xég oi zpdi m` jimi pgf m` ofz iuix}imfz jiojpoimfz ig}`xlfxd`g}` ig}`xlfxd`g}`33 Jixni z`gzlho` `a`j}lqi }f}io Ximlijlúg zpu`xaljl`z ijxlz}ioimiz ]xigzdlzlúg$ximlijlúg ]xigzdlzlúg$ximlijlúg zpu`xaljl`z fuijiz ]xigzdlzlúg ]xigzdlzlúg U`xzfgiz Lopdlgijlúg Q`g}loijlúg ]F]IO Jixni oi}`g}` `a`j}lqi }f}io U`xzfgiz Q`g}loijlúg ]F]IO
::2= ^ 99=8 ^ 90:0/2 ^ 90=5 ^ 1805 ^ 111/0 ^ 9='092/: ^ 98>1 ^ 92:>/2 ^ :99:/2 ^
LLL' JIOJPOF M@ OI JIXNI ]ÌXDLJI M@ X@AXLN@XIJLÚG JÉOJPOF M@ OI JIXNI ]ÌXDLJI Zfopjlúg `c`duof 9' Jixni `a`j}lqi }f}io Uixi zih`x oi jixni `a`j}lqi }f}io z` zpdig oi z`gzlho` | oi oi}`g}`3
Y ]F]IO
4
Y Z]F]IO
+ YO
]F]IO
4
9=092/: + :99:/2
4
9>1:8/9^