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Jack Jensen is the president of Jensen Management. Jensen prides himself on the care of his employees. He states that in 30 years of portfolio management, he has only had to fire two employees. Tom Mercer is president of Analytical Investors. His policy has been to replace poorly performing managers, where poor performance equals underperforming their benchmark for two successive quarters. Which of the following best describes these managers’ continuation decisions? A. Jensen is likely committing Type I error and Mercer is likely committing Type II error. B. Jensen is likely committing Type II error and Mercer is likely committing Type I error. C. Jensen is not likely to be committing any error and Mercer is likely committing Type II error. |