Question content area top Part 1 In the last quarter of 2007, a group of 64 mutual funds had a mean return of 4.8% with a standard deviation of 7.4%. If a normal model can be used to model them, what percent of the funds would you expect to be in each region? Use the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely. Be sure to draw a picture first. a) Returns of negative 10.0% or lessless b) Returns of 4.8% or lessless c) Returns between negative 17.4% and 27.0% d) Returns of moremore than 12.2%
Question content area top Part 1 In the last quarter of 2007, a group of 64 mutual funds had a mean return of 4.8% with a standard deviation of 7.4%. If a normal model can be used to model them, what percent of the funds would you expect to be in each region? Use the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely. Be sure to draw a picture first. a) Returns of negative 10.0% or lessless b) Returns of 4.8% or lessless c) Returns between negative 17.4% and 27.0% d) Returns of moremore than 12.2%
Question content area top Part 1 In the last quarter of 2007, a group of 64 mutual funds had a mean return of 4.8% with a standard deviation of 7.4%. If a normal model can be used to model them, what percent of the funds would you expect to be in each region? Use the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely. Be sure to draw a picture first. a) Returns of negative 10.0% or lessless b) Returns of 4.8% or lessless c) Returns between negative 17.4% and 27.0% d) Returns of moremore than 12.2%
In the last quarter of 2007, a group of 64 mutual funds had a mean return of
4.8%
with a standard deviation of
7.4%.
If a normal model can be used to model them, what percent of the funds would you expect to be in each region? Use the 68-95-99.7 rule to approximate the probabilities rather than using technology to find the values more precisely. Be sure to draw a picture first.
a) Returns of
negative 10.0%
or lessless
b) Returns of
4.8%
or lessless
c) Returns between
negative 17.4%
and
27.0%
d) Returns of
moremore
than
12.2%
Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...
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