D17-F01-A03 · SYNTHETIC TEACHING DATA

Carhart Four-Factor Model

Identify whether a persistent-return strategy carries momentum exposure after accounting for market, size and value.

Experiment

Residual noise multiplier

Teaching stage

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Choose → step → observe → explain → compare

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Observation	Input / intermediate	Derived evidence

All displayed values are calculated from the selected synthetic input. Decimal returns use 0.01 for 1%. A statistical result applies only to its declared hypothesis and sample.