SOLUTION: Oasis is an asset management company in South Africa. It has found that there is a three-in-five chance that a general equity unit trust fund will perform better than the overall J
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-> SOLUTION: Oasis is an asset management company in South Africa. It has found that there is a three-in-five chance that a general equity unit trust fund will perform better than the overall J
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Question 1145161: Oasis is an asset management company in South Africa. It has found that there is a three-in-five chance that a general equity unit trust fund will perform better than the overall JSE share index over any one-year period. If seven general equity unit trust funds are randomly selected from general equity unit trust funds.
*Question* :
What is the probability that all of these general equity unit trust funds performed better than the overall JSE share index over the past year (rounded off to three decimals)?
