Every year Business Week reports the performance ofa group of existing equity mutual funds, selected for their popularity. Taking the average performance of this group of funds will create
　　A. Survivorship bias only
　　B. Selection bias only
　　C. Both survivorship and selection bias
　　D. Instant-history bias only
　　Answer:C
　　The publication lists existing funds, so it must be subject to suvivorship bias, because dead funds are not considered. In addition, there is selection bias because the publication focuses on just the popular funds, which are large and likely to have done welL Answers a) and b) are incomplete, Answer d) is also incomplete.