Recall from Exercise 6.63 that individual forecasts of a particular interest rate are normally distributed with a

Question:

Recall from Exercise 6.63 that individual forecasts of a particular interest rate are normally distributed with a mean of 5 percent and a standard deviation of 1.2 percent.

a. What percentage of individual forecasts are at or below the 10th percentile of the distribution of forecasts? What percentage are at or above the 10th percentile? Find the 10th percentile of the distribution of individual forecasts.

b. Find the first quartile, Q1 , and the third quartile, Q3 , of the distribution of individual forecasts.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...