Show your work.

Problem 33: Mutual funds, once more. Based on the model N(0.062, 0.018) for quarterly returns from Exercise 23, what are the cutoff values for the

a.Highest 10% of these funds?

b.Lowest 20%?

c.Middle 40?

d.Highest 80%

Exercise 23: Problem 23: Mutual fund returns 2013. In the first quarter of 2013, a group of domestic equity mutual funds had a mean return of 6.2% with a standard deviation of 1.8%. If a Normal model can be used to model them, what percent of the funds would you expect to be in each region?

Be sure to draw a picture first.

a.Returns of 8.0% or more

b.Returns of 6.2% or less

c.Returns Between 2.6% and 9.8%

d.Returns of more than 11.6%