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In the context of performance evaluations, how would the use of data that incorporates the specified concerns most accurately impact the evaluation outcomes?
A
The average Sharpe ratio of hedge funds is understated and the average Sharpe ratio of real estate funds is overstated.
B
The average Sharpe ratio of hedge funds is overstated and the average Sharpe ratio of real estate funds is also overstated.
C
The average volatility of hedge funds is overstated and the average volatility of real estate funds is also overstated.
D
The average volatility of hedge funds is overstated and the average volatility of real estate funds is understated.
