Mutual Funds (a) Say good mutual funds have a good year with probability 2/3. What is the probability that a good mutual fund has three bad years in a row? Show your work. (b) Say, you instead have a mental urn for a good mutual fund. The urn has three tickets and refreshes after every three draws. With what probability do you think a good mutual fund has three bad years in a row given this mental model? Show your work. Mutual Funds (a) Say good mutual funds have a good year with probability 2/3. What is the probability that a good mutual fund has three bad years in a row? Show your work. (b) Say, you instead have a mental urn for a good mutual fund. The urn has three tickets and refreshes after every three draws. With what probability do you think a good mutual fund has three bad years in a row given this mental model? Show your work