Are the following statements consistent or in violation of the efficient market hypothesis?(for each statement, indicate whether it is consistent or inconsistent, and brieflyexplain)

a)Nearly half of all professionally managed mutual funds can outperform the S&P 500 in a typical year.

b)Stock prices of small capitalization firms tend to be predictably more volatile than stock prices of large capitalization firms, everything else being equal.

c)Stocks that performwell in the morning perform poorly in the afternoon.