14. Assume the following return data:

a) Calculate the expected return, if the standard deviation is 14.88%. b) Assuming normality, calculate the probability of earning a return more than 15.0%.

\begin{tabular}{|c|c|} \hline Year & \begin{tabular}{c} Rate of \\ return \end{tabular} \\ \hline 1 & 16.9% \\ \hline 2 & 31.3% \\ \hline 3 & 3.2% \\ \hline 4 & 30.7% \\ \hline 5 & 7.7% \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline Year & \begin{tabular}{c} Rate of \\ return \end{tabular} \\ \hline 1 & 16.9% \\ \hline 2 & 31.3% \\ \hline 3 & 3.2% \\ \hline 4 & 30.7% \\ \hline 5 & 7.7% \\ \hline \end{tabular}