**Investment Simulation and Probability Analysis**Patricia has $30,000 to invest in a mutual fund whose annual returns are normally distributed with a mean of 4.40% and a standard deviation of 3.60%.**a.** Use Excel's Analysis ToolPak, with a seed of 1, to simulate 5,000 trials to estimate the mean balance after one year. **Note:** Round intermediate calculations to at least 4 decimal places and your final answer to 2 decimal places.- **Average balance after one year**: [Input field]**b.** What is the probability of a balance of $31,800 or more? **Note:** Round intermediate calculations to at least 4 decimal places and show your final answer as a percentage point with 2 decimal places.- **Probability of having a balance of $31,800 or more**: [Input field] %**c.** Compared to another investment option at a fixed annual return of 3% per year, what is the probability of getting at least the same balance from the mutual fund after one year? **Note:** Round intermediate calculations to at least 4 decimal places and show your final answer as a percentage point with 2 decimal places.- **Probability of getting the same balance from the mutual fund after one year**: [Input field] %

Given information:- Mean = 4.40% S.D = 3.60 %

Answered: Patricia has $30,000 to invest in a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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