Please don't use Ai solution Assume that the returns from an asset are normally distributed. The average annualreturn for this asset over a specific period was 14.8 percent and the standard deviation ofthe asset was 43.71 percent. Use the NORMDIST function in Excel® to answer thisquestion.What is the approximate probability that your money will double in value in a single year?(Do not round intermediate calculations and enter your answer as a percent roundedto 3 decimal places, e.g., 32.161.)What is the probability of the asset tripling in value? (Do not round intermediatecalculations and enter your answer as a percent rounded to 6 decimal places, e.g.,32.161616.)Probability of doubling in valueProbability of tripling in value2.600 %0.000007 %

Step 1:Given data : Mean μ=14.8Standard deviation σ=43.71Let X be the random variable that…

Answered: Assume that the returns from an asset…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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