A mutual fund company has six funds that invest in the U.S. market and four funds that invest in foreign markets. An investor wishes to create a mutual fund portfolio composed of two U.S. funds and two foreign funds. Unknown to this investor, one of the U.S. funds and one of the foreign funds will seriously under-perform next year. If the investor selects funds for his portfolio at random, what is the probability that he will have selected a portfolio with at least one under-performing fund in it?

 

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