The average daily high temperature in June in a city is 74F with a standard deviation of 7F. Suppose that the temperatures in June closely follow a normal distribution. (a) What is the probability of observing an 79 temperature or higher in the city during a randomly chosen day in June? (Round your answer to four decimal places.) E (b) How cool are the coldest 10% of the days (days with lowest average high temperature) during June in the city? (Round your answer to one decimal place.) E You may need to use the appropriate appendix table or technology to answer this question. Jr Additional Materials [3] eBook The Capital Asset Pricing Model (CAPM) is a financial model that assumes returns on a portfolio are normally distributed. Suppose a portfolio has an average annual return of 16.3% (i.e., an average gain of 16.3%) with a standard deviation of 31%. A return of 0% means the value of the portfolio doesn't change, a negative return means that the portfolio loses money, and a positive return means that the portfolio gains money. (Round your answers to two decimal places.) (a) What percent of years does this portfolio lose money, i.e., have a return less than 0%? (b) What is the cutoff for the highest 15% of annual returns with this portfolio? You may need to use the appropriate table in the Appendix of Tables to answer this