The historical returns on a balanced portfolio have had an average return of 6% and a standard deviation of 13%. Assume that returns on this portfolio follow a normal distribution. a. What percentage of returns were greater than 45%? Note: Round your answer to 2 decimal places. Percentage of returns % b. What percentage of returns were below -7%? Note: Round your answer to 2 decimal places. Percentage of returns %

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The historical returns on a balanced portfolio have had an average return of 6% and a standard deviation of 13%. Assume that returns
on this portfolio follow a normal distribution.
a. What percentage of returns were greater than 45%?
Note: Round your answer to 2 decimal places.
Percentage of returns
%
b. What percentage of returns were below -7%?
Note: Round your answer to 2 decimal places.
Percentage of returns
%
Transcribed Image Text:The historical returns on a balanced portfolio have had an average return of 6% and a standard deviation of 13%. Assume that returns on this portfolio follow a normal distribution. a. What percentage of returns were greater than 45%? Note: Round your answer to 2 decimal places. Percentage of returns % b. What percentage of returns were below -7%? Note: Round your answer to 2 decimal places. Percentage of returns %
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