Some institutional investors believe that the financial market is by-and-large efficient (i.e., no significant mispricing) but they include smart beta portfolios as an important part of their investments. Their investment in smart betas is most likely guided by which of the following theories? 

In Warren Buffett’s famous 2007 bet on S&P500 vs. hedge funds, the return of the S&P500 index is compared with the return (net of fees) of a portfolio of hedge funds over a 10 year period. Which of the following, if true, may suggest that it is not appropriate to compare the performance of the S&P 500 index with that of the hedge fund portfolio simply by their returns? Please select all THREE correct answers.  

I ______ a strange noise outside my window at midnight.

She (drive) ______ to Cleveland to visit her aunt. (simple past tense)

The teacher (give) ______ us a lot of homework yesterday.

My grandmother ______ many stories about her childhood in Korea.

The children (play) ______ in the park all afternoon.

The students ______ their homework before class started.

A study was done in 2023 looking at commute times to work for workers in the United States. The data is summarized in the table below.  Commute Times & Probabilities Commute Time Probability None 0.26 Less than 15 Minutes 0.24 15 – 29 Minutes 0.30 30 – 59 Minutes 0.17 60 – 119 Minutes 0.02 120+ Minutes 0.01   Find the probability as a decimal that a randomly selected worker has a commute that is 30-59 minutes long.  (Write your answer as a decimal rounded to 2 decimal places. So if you thought the answer was 0.12345 then you would write 0.12 as your answer.)

There were a total of 10 students taking a graduate level Statistics course. One of the assignments in this course was an exam that was worth a total of 100 points. The professor was keeping a running average of the exam scores as she graded them. After the first 8 exams, the average exam score was an 80. Then after grading the final 2 exams, the average was an 82.    For this problem, answer the following question and explain how you arrived at your answer.  What was the average score of the 9th and 10th exams?