Suppose the average return on FTSE TMX Canada long$-$term bonds is $7\mathrm{.}00\%$ and the standard deviation is $9\mathrm{.}00\%$ and the average return and standard deviation on T$-$bills are $3\mathrm{.}30\%$ and $2\mathrm{.}50\%,$ respectively. Further assume that the returns are normally distributed. Use the NORMDIST function in Excel ${?}^{}$ to answer the following questions. $($Do not round intermediate calculations. Round the final answers to $2$ decimal places.$)$

a$.$ What is the probability that in any given year, the return on long$-$term corporate bonds will be greater than $9\%?$ Less than $0\%?$

b$.$ What is the probability that in any given year, the return on T$-$bills will be greater than $9\%?$ Less than $0\%?$

Greater than $9\%$

Less than $0\%$

$\%$

$\%$

c$-1.$ In $1981,$ the return on FTSE TMX Canada long$-$term bonds was $-4\mathrm{.}29\%.$ How likely is it that such a low return will recur at some point in the future?

Probability $\%$

c$-2.$ T$-$bills had a return of $9\mathrm{.}00\%$ in this same year. How likely is it that such a high return on T$-$bills will recur at some point in the future?

Probability $\%$