An investor can buy a 9 year bond that yields 3% or invest in a stock fund with an expected return of 8% and an expected standard deviation of 15%. What is the probability that the equity fund outperforms?

		84% (expected return 1 standard deviation above the bond return)
		63% (expected return 1/3rd of a standard deviation above the bond return)
		55% (expected return 1/9th of a standard deviation above the bond return)