The relative frequency of AA rated energy bonds, based on the total count, is closest to:

A. 10.5%.

B. 31.5%.

C. 39.5%.

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A fixed-income portfolio manager creates a contingency table of the number of bonds held in her portfolio by sector and bond rating. The contingency table is presented here: Bond Rating Sector A AA AAA Communication Services 25 32 27 Consumer Staples 30 25 25 Energy 100 85 30 Health Care 200 100 63 Utilities 22 28 14