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1 2 Expected return 3 Standard deviation A Jx 4 Probability (return is less than 3%) 5 Probability (return is greater than 3%) 6

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1 2 Expected return 3 Standard deviation A Jx 4 Probability (return is less than 3%) 5 Probability (return is greater than 3%) 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Q1 B C D E F G H 1 J K L M N 9% 20% | Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 +

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