There are 10,000 mutual fund managers. 13 claim that they are the best, since their fund beat the relevant index every year for 5 years. However, you think that markets are efficient and that the average fund manager is as likely to deliver a better performance than the index as to underperform the index, before fees. Part 1 Attempt 1/10 for 10 pts. What is the probability that the average single fund managers beats the index 5 years in a row (before fees)? 4+ decimals Submit Part 2 Attempt 1/10 for 10 pts. How many fund managers would you expect to beat the index 5 years in a row if only luck and no skill was involved? 0+ decimals