Good portfolio managers beat the benchmark in 80 of the

Reference no: EM13645260

Good portfolio managers beat the benchmark in 80% of the years. Mediocre portfolio managers beat the benchmark in 40% of the years. Only 1/3 of all managers are good; the rest are mediocre. A friend just told you that her manager beat the benchmark last year. What is the probability that this manager is actually good?

Reference no: EM13645260

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