Fund Name	Fund Type	Net Asset Value ($)	5 Year Average Return (%)	Expense Ratio (%)	Morningstar Rank (Stars)
Fidelity Sh-Term Bond	FI	8.60	2.76	0.45	3
Vanguard GNMA	FI	10.37	4.25	0.21	5
Managers Freemont Bond	FI	10.56	5.14	0.60	5
PIMCO Emerg Mkts Bd D	FI	10.68	13.57	1.25	3
American Century Tax-Free Bond	FI	10.73	3.34	0.49	4
FPA New Income	FI	10.95	4.63	0.62	3
USAA Income	FI	12.10	4.31	0.62	3
Dodge & Cox Income	FI	12.51	4.31	0.44	4
Fidelity Municipal Income	FI	12.58	4.41	0.45	5
DFA U.S. Micro Cap	DE	13.47	17.23	0.53	3
American Century Intl. Disc	IE	14.37	30.53	1.41	3
Buffalo Mid Cap	DE	15.29	17.25	1.02	3
Kalmar Gr Val Sm Cp	DE	15.30	15.31	1.32	3
Vanguard Sht-Tm TE	FI	15.68	2.37	0.16	3
Artisan Small Cap	DE	16.92	15.67	1.18	3
Marsico 21st Century	DE	17.44	15.16	1.31	5
T. Rowe Price Mid Val	DE	22.46	16.91	0.80	4
Greenspring	DE	23.59	12.46	1.07	3
Vanguard Global Equity	IE	23.71	21.77	0.64	5
Templeton Growth A	IE	24.07	15.91	1.01	3
Delafield	DE	24.32	17.77	1.32	4
Vanguard Equity-Inc	DE	24.42	13.41	0.29	4
American Century Ultra	DE	24.94	10.88	0.99	3
Artisan Intl Val	IE	25.52	24.95	1.23	3
RS Value A	DE	26.27	23.68	1.36	4
Mathews Pacific Tiger	IE	27.86	32.70	1.16	3
Amer Cent Inc & Growth Inv	DE	28.88	12.39	0.67	2
Fairholme	DE	31.86	18.23	1.00	5
Meridan Value	DE	31.92	15.33	1.08	4
Janus	DE	32.26	12.81	0.90	3
Vanguard Sm Cp Idx	DE	32.58	17.01	0.23	3
Wasatch Sm Cp Growth	DE	35.41	13.98	1.19	4
Brown Cap Small	DE	35.73	15.85	1.20	4
Brandywine	DE	36.58	18.14	1.08	4
Thornburg Value A	DE	37.53	15.46	1.27	4
Fidelity	DE	39.85	14.40	0.56	4
Oakmark I	DE	40.37	9.51	1.05	2
Fidelity Sel Electronics	DE	45.60	13.50	0.89	3
Ariel	DE	46.39	11.32	1.03	2
Fidelity Overseas	IE	48.39	23.46	0.90	4
Gabelli Asset AAA	DE	49.81	16.70	1.36	4
Baron Asset	DE	50.67	16.77	1.31	5
T. Rowe Price Latin Am.	IE	53.89	51.10	1.24	4
Janus Worldwide	IE	54.83	12.31	0.86	2
Fidelity Contrafund	DE	73.11	17.99	0.89	5

Question 1 (2.5 points)

Use MutualFunds excel file for this problem.

Match the numbers below with the descriptive statistics of "Net Asset Value" variable in the "MutualFunds" file.

Question 1 options:

12345	15.05
12345	0.82
12345	28.01
12345	24.94

1.	Mean
2.	Median
3.	Mode
4.	Standard Deviation
5.	Skewness

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Question 2 (2.5 points)

Use the "MutualFunds" excel file.

What is the mean of the "5 Year Average Return" across domestic equity (DE) mutual funds in percentage points?

Question 2 options:

a)

15.04

b)

15.37

c)

26.59

d)

4.91

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Question 3 (2.5 points)

Use the "MutualFunds" excel file.

What is the average of "5 Year Average Return" across international equity (IE) mutual funds in percentage points?

Question 3 options:

	15.04
	15.37
	26.59
	27.03

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Question 4 (2.5 points)

Use the "MutualFunds" excel file.

What is the average of "5 Year Average Return" across fixed income (FI) mutual funds in percentage points?

Question 4 options:

	15.04
	4.91
	4.83
	4.55

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Question 5 (2.5 points)

Use the "MutualFunds" excel file.

Which Mutual Fund type has the highest average Morningstar Rank?

(Please write IE, DE or FI as your answer)

Question 5 options:

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Question 6 (2.5 points)

Use the "MutualFunds" excel file.

What is the maximum expense ratio percentage that a domestic equity fund charges to its clients?

(Do not include the percentage sign (%) in your answer, round to two decimal points, for example 1.11)

Question 6 options:

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Question 7 (2.5 points)

Use the "MutualFunds" excel file.

What is the average net asset value of international equity funds in the sample.

(Do not include the dollar sign in your answer, round to two decimal points, for example 11.11)

Question 7 options:

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Question 8 (2.5 points)

Use the "MutualFunds" excel file. What is the correlation coefficient between net asset value and 5 year average return of all mutual funds?

Question 8 options:

a)

0.56

b)

0.06

c)

0.48

d)

0.42

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Question 9 (2.5 points)

Use the FDICBankFailures file, which contains data on failures of federally insured banks between 2000 and 2012, to discover which Nevada (NV) city had the greatest number of bank closings during the whole sample period.

Question 9 options:

a)	Carson City

b)

Elko

c)

Las Vegas

d)

Reno

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Question 10 (2.5 points)

The Net Asset Value variable in the Mutual Funds excel worksheet is a good candidate for the Empirical Rule. (Build a histogram to find the answer to this question!)

Question 10 options:

	True
	False