Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The quarterly returns for a group of 73 mutual funds with a mean of 2.1% and a standard deviation of 5.3% can be modeled by
The quarterly returns for a group of 73 mutual funds with a mean of 2.1% and a standard deviation of 5.3% can be modeled by a Normal model. Based on the model N(0.021,0.053), what are the cutoff values for the a) highest 30% of these funds? b) lowest 40%? c) middle 60%? d) highest 60%? a) Select the correct choice and fill in any answer boxes in your choice below. (Round to two decimal places as needed.) OA. X O C. %For the following problem, use the 68-95-99.7 Rule to approximate the probability rather than using technology to find the values more precisely. Although controversial and the subject of some recent law suits, some human resource departments administer standard IQ tests to all employees. One IQ test's scores are well modeled by a Normal model with mean 100 and standard deviation 15. If the applicant pool is well modeled by this distribution, a randomly selected applicant would have what probability of scoring in the following regions? a) 130 or above b) Above 100 c) Between 55 and 145 d) Below 85 a) The probability is. (Type an integer or a decimal. Do not round.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started