32. An analyst develops the following capital market projections.

Assuming the returns of the asset classes are described by normal distributions, which of the following statements is correct?
A. Bonds have a higher probability of a negative return than stocks.
B. On average, 99 percent of stock returns will fall within two standard deviations of the mean.
C. The probability of a bond return less than or equal to 3 percent is determined using a Z-score of 0.25.

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Stocks Bonds Mean Return 10% 2% Standard Deviation 15% 5%