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The historical returns on a balanced portfolio have had an average return of 9% and a standard deviation of 19%. Assume that returns on

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The historical returns on a balanced portfolio have had an average return of 9% and a standard deviation of 19%. Assume that returns on this portfolio follow a normal distribution. [You may find it useful to reference the z table.] a. What percentage of returns were greater than 47%? (Round your answer to 2 decimal places.) Percentage of returns % b. What percentage of returns were below -29%? (Round your answer to 2 decimal places.) Percentage of returns % 13

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