Question: assume that 2 , 0 0 0 mutual fund managers try to earn portfolio returns that beat the S&P 5 0 0 each year over

assume that 2,000 mutual fund managers try to earn portfolio returns that beat the S&P 500 each year over a 8 year period. about how many of the managers would you expect to beat the S&P 500 in all 8 years based purely on luck?

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