Suppose the returns on long-term government bonds are normally distributed. Based on the historical record from 1926-2008, long-term government bonds had a mean return of 6.1 percent and a standard deviation of 9.4 percent.

Required:

(a)	Based on the historical record, what is the approximate probability that your return on these bonds will be less than ?3.3 percent in a given year? (Do not include the percent sign (%).Round your answer to 2 decimal places. (e.g., 32.16))

Probability

%

(b)	What range of returns would you expect to see 95 percent of the time? (Do not include the percent signs (%). Negative amounts should be indicated by a minus sign. Input your answers from lowest to highest to receive credit for your answers. Round your answers to 2 decimal places. (e.g., 32.16))

Range of return

%

to

%

(c)	What range would you expect to see 99 percent of the time? (Do not include the percent signs (%). Negative amounts should be indicated by a minus sign.Input your answers from lowest to highest to receive credit for your answers. Round your answers to 2 decimal places. (e.g., 32.16))

Range of return

%

to

%