Question: Companies that sell mutual funds charge their investors expense fees

Companies that sell mutual funds charge their investors expense fees to offset the costs of research and administration. The distribution of expense fees is normal, with a mean of 2.5% and a standard deviation of 1.0%.
a. Find the probability that a mutual fund has an expense fee of between 2.5% and 3.5%.
b. What is the probability that a mutual fund has expense fees greater than 3%?
c. 90% of mutual funds have expense fees below what percentage?


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  • CreatedJuly 12, 2015
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