.2602/2*,$ ±
3UyE\NRVPRORJLLNZDQWRZHM²UyZQDQLH:KHHOHUD±'H:LWWD
35Ï%<.2602/2*,,.:$172:(-
5Ï:1$1,(:+((/(5$±'H:,77$
:SRGHMFLXW\PFKRG]LáRRVIRUPXáRZDQLHF]HJRZURG]DMXUyZQDQLD6FKU|GLQJHUDGODIXQNFML
IDORZHM : ZF]HVQHJRZV]HFKZLDWD3U]HGVWDZLP\WX]DU\VQDMSURVWV]HMZHUVMLWDNLHJRSRGHMFLD
=DF]QLMP\RG]QDQHJRMX*UyZQDQLDNRVPRORJLF]QHJRZSRVWDFL
2
2
K
'
P
2
2
2
C
Q
aa
a
¬
®
WX SULP QDGDO R]QDF]D SRFKRGQ SR
X
CT
]D P WR FLQLHQLH SRFKRG]FH RG SROD +LJJVD
'
RPDZLDQHJRZUR]G]LDOHRID]LHLQIODF\MQHM
3U]\SRPQLMP\RWU]\PDQHWDP]DOH*QRFLQDJ VWRüHQHUJLLLFLQLHQLHWHJRSROD
6
P
6
F
a
'
'
a
'
'
RUD]
P
P
6
F
F
a
'
'
2ND]XMHVL *HPR*QD]EXGRZDüWDNLODJUDQ*MDQNWyU\SRZVWDZLHQLXGRUyZQD/DJUDQJH¶DGD
QDPUyZQDQLHZNWyU\PFLQLHQLH
P
GDQHMHVWSU]H]OXE
/DJUDQ*MDQWHQPDSRVWDü
;
=
C
, 2 2
2
2
K2
2
6
'
Q
Q
¯
a
a
a
a
' '
'
'
¡
°
¢
±
ODJUDQ*MDQPDWXZ\PLDUHQHUJLL
2EOLF]DP\
;
=
;
=
,
C
2 2
'
2
,
C
2 2
2
X
'
2
,
C
2
K
2 P
2
'
Q
Q
Q
Q
s
a
a
s
s s
aa
a
a
s
s
s
a
s
àDWZRWHUD]VSUDZG]Lü*HSRZVWDZLHQLXGR
s s
s
s
s
a
s
,
,
X
2
2
RWU]\PDP\
0DMFRGSRZLHGQLODJUDQ*MDQPR*QD]EXGRZDüWHQVRUHQHUJLL±S GXDZV]F]HJyOQRFLVNáDGRZ
4
F]\OLKDPLOWRQLDQ
,
,
(
2
,
2
s
s
a
a
'
a
a
s'
s
:LHONRFL
,
'
a
s
s' w 1
RUD]
a
s
s
w 1
2
,
2
PR*QDWUDNWRZDüMDNW]ZS G\NDQRQLF]QH
:LHONRü( SRXSRU]GNRZDQLXZ\UD]yZSU]\MPLHSRVWDü
2
'
C
(
K2
2 6
2
'
2
2
C
Q
Q
Q
Q
'
¯
¯
¡
°
1
1
'
¡
°
¡
°
¢
±
¢
±
.2602/2*,$ ±
3UyE\NRVPRORJLLNZDQWRZHM²UyZQDQLH:KHHOHUD±'H:LWWD
1DVW SQLHMDNRS G\NDQRQLF]QHSRGVWDZLDVL RGSRZLHGQLHGODPHFKDQLNLNZDQWRZHMZLHONRFL
RSHUDWRURZH
2
IH
2
IH
'
s
1 l
s
s
1 l
s'
SU]H]FRFDá\KDPLOWRQLDQ ( WH*VWDMHVL
RSHUDWRUHP0R*QDZL
FIRUPDOQLHX*\üJRGR]DSLVDQLD
UyZQDQLD6FKU|GLQJHUD
T
(
IH
s:
s
:
3RVWXOXMHVL MHGQDN*HIXQNFMDIDORZDZV]HFKZLDWD
2
: '
QLH]DOH*\MDZQLHRGF]DVXDMHG\QLH]DSRUHGQLFWZHP
2 T
RUD]
T
'
2]QDF]DWR*HQLHLVWQLHMH
Ä]HZQ
WU]Q\Z]JO
GHPZV]HFKZLDWD´XNáDGZVSyáU]
GQ\FKF]DVRSU]HVWU]HQQ\FKZNWyU\PLVWQLDáDE\
ÄOLQLDZLDWDGODZV]HFKZLDWD´²F]\OL]HZQ
WU]Q\Z]JO
GHPZV]HFKZLDWDF]DVDEVROXWQ\
2VWDWHF]QLHUyZQDQLHQDV]H
:
(
SRXZ]JO GQLHQLXLE G]LH
H '
H
C
K2
2 6
2
'
2
2
C
Q
Q
Q
Q
¯
s
s
¡
°
' :
'
s
s'
¡
°
¢
±
-HVWWRZáDQLHUyZQDQLH:KHHOHUD±'H:LWWDQDMSURVWV]DMHJRZHUVMD5y*QHPR*OLZRFLG\VNXVML
GDMHPR*OLZRü]DVWRVRZDQLDUy*Q\FKIRUPSRWHQFMDáXSROD
6
'
DWDN*HUy*QHW\S\SyO+LJJVDZ
VWRVRZDQ\PZDULDQFLHWHRULL
SURI-HU]\6LNRUVNL
,QVW\WXW)L]\NL7HRUHW\F]QHML$VWURIL]\NL
8QLZHUV\WHW*GDVNL
HPDLOIL]MNV#LIWLDXQLYJGDSO