Answered: Suppose the returns of a particular…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 22PFA

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Suppose the returns of a particular group of mutual funds are normally distributed with a mean of 9.5% and a standard deviation of 5.1%. If the manager of a particular fund wants to be sure that his fund is NOT in the bottom 25% of funds with the lowest return, what return must his fund have? (please round your answer to 2 decimal places)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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