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Suppose the returns on long-term corporate bonds and T-bills are normally distributed. Assume for a certain time period, long-term corporate bonds had an average return

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Suppose the returns on long-term corporate bonds and T-bills are normally distributed. Assume for a certain time period, long-term corporate bonds had an average return of 6.3 percent and a standard devlation of 9.6 percent. For the same period, T-bills had an average return of 4.8 percent and a standard deviation of 3.8 percent. Use the NORMDIST function in Exce1" to answer the following questions: 0. What is the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent? Less than 0 percent? Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. b. What is the probability that in any given year, the return on T-bilis will be greater than 10 percent? Less than 0 percent? Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. c. In one year, the return on long-term corporate bonds was 5 percent. How likely is it that such a low return will recur at some point in the future? T-bills had a return of 11.62 percent in this same year, How likely is it that such a high return on T-bills will recur at some point in the future? Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.9., 32.16

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