The quarterly returns for a group of 55 mutual funds are well modeled by a Normal model with a mean of 8.4% and a standard deviation of 1.9%. Use the 68-95-99.7 Rule to find the cutoff values that would separate the following percentages of funds, rather than using technology to find the exact values. a) the highest 50% b) the highest 16% c) the lowest 2.5%
The quarterly returns for a group of 55 mutual funds are well modeled by a Normal model with a mean of 8.4% and a standard deviation of 1.9%. Use the 68-95-99.7 Rule to find the cutoff values that would separate the following percentages of funds, rather than using technology to find the exact values. a) the highest 50% b) the highest 16% c) the lowest 2.5%
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 14PPS
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Question
Select the correct choice (i, ii, or iii) for each a, b, c, d, and fill in any answer boxes in your choice below.
(Round to one decimal place as needed.)
x ≤ ___ %
x ≥ ___%
___% ≤ x ≤ ___%
![The quarterly returns for a group of 55 mutual funds are well modeled by a Normal model with a mean of 8.4% and a standard deviation of 1.9%. Use the 68-95-99.7
Rule to find the cutoff values that would separate the following percentages of funds, rather than using technology to find the exact values.
a) the highest 50%
b) the highest 16%
c) the lowest 2.5%
d) the middle 68%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F845385f3-15b6-4852-8c81-f3f4e391b89a%2Fede220f6-756a-48ce-a66c-5730de956b2c%2Fqk81a07h_processed.png&w=3840&q=75)
Transcribed Image Text:The quarterly returns for a group of 55 mutual funds are well modeled by a Normal model with a mean of 8.4% and a standard deviation of 1.9%. Use the 68-95-99.7
Rule to find the cutoff values that would separate the following percentages of funds, rather than using technology to find the exact values.
a) the highest 50%
b) the highest 16%
c) the lowest 2.5%
d) the middle 68%
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