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 6.1% and a standard deviation of 8.8%. For the same period, T-bills had an average return of 4.6% and a standard deviation of 3%. Use the NORMDIST function in Excel to answer the following questions: a. 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? (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-bills will be greater than 10 percent? Less than 0 percent? (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 -4.6 percent. How likely is it that such a low return will recur at some point in the future? T-bills had a return of 11.52 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? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) % % a. Probability of return greater than 10 percent Probability of return less than 0 percent b. Probability of return greater than 10 percent Probability of return less than 0 percent c. Probability of return less than 46 percent Probability of return greater than 11.52 percent % % % %