What is the probability funds generate positive returns, Accounting Basics

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What is the probability funds generate positive returns

Question:

You are invested in two hedge funds. The probability that hedge fund Alpha generates positive returns in any given year is 60%. The probability that hedge fund Omega generates positive returns in any given year is 70%. Assume the returns are independent. What is the probability that both funds generate positive returns in a given year? What is the probability that both funds lose money?

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Accounting Basics: What is the probability funds generate positive returns

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