Suppose the returns of a particular group of mutual funds are normally distributed with a mean of 12.4% and a standard deviation of 4.7%. If the manager of a particular fund wants his fund to be in the top 5% of funds with the highest return, what return must his fund have? (please round your answer to 2 decimal places)
Suppose the returns of a particular group of mutual funds are normally distributed with a mean of 12.4% and a standard deviation of 4.7%. If the manager of a particular fund wants his fund to be in the top 5% of funds with the highest return, what return must his fund have? (please round your answer to 2 decimal places)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Suppose the returns of a particular group of mutual funds are
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