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Companies that sell stock mutual funds charge their investors expense fees to offset the costs of research and administrative activities. In 1999, the average expense
Companies that sell stock mutual funds charge their investors expense fees to offset the costs of research and administrative activities. In 1999, the average expense fee as expressed as a percentage of total assets invested in the fund was 0.93%. Assume that the distribution of expense fees is a normal random variable with a mean of 0.93% and a standard deviation of 0.3%.
- The expense fee for 75% of stock mutual funds is greater than what value?
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