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One hundred fund managers enter a contest to see how many times in 13 years they can earn a higher return than their competitors. The

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One hundred fund managers enter a contest to see how many times in 13 years they can earn a higher return than their competitors. The probability distribution of the number of successful years out of 13 for the best performing money managers is Winning Years 100 Managers in Contest 9 09 10 319 503 12 146 13 1.2 Meas winning year of best performer 10.83 Out of this sample, chance alone would indicate that there is a probability that someone would beat the market at least 11 times out of 13 years. OA. 65.9% Insert appropriate promotinput type and other instructions here

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