Question 3: Mandy Liang is a good friend of Milev's. She wants Milev to help her assess the performance of her portfolio. Mandy's portfolio has a return of 14.60%, while the return on the market portfolio is 15.85%. The beta of her portfolio was 0.90 and its standard deviation was 20% . The standard deviation of the market portfolio was 25%. And the risk-free rate is 9.60%. By using the Sharpe ratio, Milev can conclude that: A) Mandy's portfolio has delivered superior returns. B) Mandy's portfolio has delivered inferior returns. C) Mandy's portfolio has delivered neither inferior nor superior returns. D] Miley can't conclude anything about the performance of her portfolio without a significance test. E} i\."lile\,lr cannot use Sharpe ratio to assess Mandy's portfolio