An investment has an expected return of 11 percent per year with a standard deviation of 24 percent.

a.

Assuming that the returns on this investment are at least roughly normally distributed, how frequently do you expect to earn between ?13 percent and 35 percent?

	One year out of three
	Two years out of three
	Three years out of three

b.

How often do you expect to earn less than ?13 percent?

	One year out of six
	Two years out of six
	Four years out of six