# Question

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?

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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