. Arsalaan A., a well-known financial analyst, selected 50consecutive years of U.S. financial markets data at random. For 11of the years, the rate of return for the Dow Jones IndustrialAverage [DJIA] exceeded the rates of return for both the S&P500 Index and the NASDAQ Composite Index. For 8 of the years, therate of return for the DJIA trailed the rates of return for boththe S&P 500 and the NASDAQ. For 21 of the years, the rate ofreturn for the DJIA trailed the rate of return for the S&P 500.Over the 50 years,
a. determine the probability the rate of return for the DJIAtrailed the rate of return for the NASDAQ.
b. determine the probability the rate of return for the DJIAtrailed the rate of return for at least one of the other twoIndexes.
c. determine the probability the rate of return for the DJIAtrailed the rate of return for the S&P 500 given it trailed therate of return for the NASDAQ.
d. determine the probability the rate of return for the DJIAexceeded the rate of return for the S&P 500 given it exceededthe rate of return for the NASDAQ.
