One Hundred Fund Managers Enter a Contest to See How

Multiple Choice

One hundred fund managers enter a contest to see how many times in thirteen years they can earn a higher return than their competitors.The probability distribution of the number of successful years out of thirteen for the best performing money managers is Out of this sample,chance alone would indicate that there is a ______ probability that someone would beat the market at least 11 times out of 13 years.

A) 51.3%
B) 65.9%
C) 67.1%
D) 10.83%