Companies that sell mutual funds charge their investors expense fees to offset the costs of research and administration. The distribution of expense fees is normal with a mean of 2.2% and a standard deviation of 1.6%. a) Find the probability that a mutual fund has an expense fee of between 2.5% and 3.5%. b) What is the probability that a mutual fund has expense fees greater than 3%? The recent average starting salary for new college graduates employed as business systems analysts is $ 52, 500. Assume salaries are normally distributed with a standard deviation of $6,058. What is the probability of a new graduate receiving a salary between $45, 000 and $50,000?
Companies that sell mutual funds charge their investors expense fees to offset the costs of research and administration. The distribution of expense fees is normal with a
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