Question
Risk taking is an important part of investing. In order to make suitable investment decisions on behalf of their customers, portfolio managers give a questionnaire
Risk taking is an important part of investing. In order to make suitable investment decisions on behalf of their customers, portfolio managers give a questionnaire to new customers to measure their desire to take financial risks. The scores on the questionnaire are approximately normally distributed with a mean of 50.5 and a standard deviation of 14 The customers with scores in the bottom 5% are described as "risk-averse." What is the questionnaire score that separates customers who are considered risk-averse from those who are not? Carry your intermediate computations to at least four decimal places. Round your answer to one decimal place.
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