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Suppose that just 1 out of every 50 portfolio managers is a superstar. If a certain test is 99% accurate in identifying whether or not
Suppose that just 1 out of every 50 portfolio managers is a "superstar". If a certain test is 99% accurate in identifying whether or not a given portfolio manager is a "superstar", find the probability that a portfolio manager who receives a positive result upon taking the test is, in fact, a "superstar".
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