24. Using Return Distributions Suppose the returns on long-term government bonds are normally distributed. Based on the historical record, what is the approximate probability that your return on these bonds will be less than -3.9 percent in a given year? What range of returns would you expect to see 95 percent of the time? What range would you expect to see 99 percent of the time? Investment Average Return Risk Premium Large stocks Small stocks Long-term corporate bonds Long-term government bonds U.S. Treasury bills 12.1% 16.5 6.4 6.0 3.4 8.7% 13.1 3.0 2.6 24. Using Return Distributions Suppose the returns on long-term government bonds are normally distributed. Based on the historical record, what is the approximate probability that your return on these bonds will be less than -3.9 percent in a given year? What range of returns would you expect to see 95 percent of the time? What range would you expect to see 99 percent of the time? Investment Average Return Risk Premium Large stocks Small stocks Long-term corporate bonds Long-term government bonds U.S. Treasury bills 12.1% 16.5 6.4 6.0 3.4 8.7% 13.1 3.0 2.6