A portfolio is invested 40% in stock E, 30% in stock F, and 30% in stock G. Assuming that the returns are normally distributed, what is the 95% probability range of returns for any given year?

state of econ stock e stock f stock g

Boom 10% 5% 16% 23%

Normal 70% 8% 9% 11%

Recession 20% 15% -3% -25% \

a. -3.68% to 13.89% b. 2.29% to 12.37% c. -1.69% to 8.34% d. 4.12% to 15.18% e. -2.76% to 17.42%