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How does Max function works?

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How do Max function work with strings? I can´t understand it.

 

We have the following strings but I don't understand why Webintelligence keeps marking 1:58 as the max string? If clearly 13: is the max string

 

ScreenShot098.jpg

Isn´t 3 > :

 

?

 

how does max fucntion evaluate special characters versus numbers? which one is bigger? In the first section you can see that 1: > 1:


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