The returns of mutual fund P exhibit a normal probability distribution with the mean of 11% and the standard deviation of 8.75%. What is the probability that this fund's return next year will be greater than 11%? Not sure I follow what they are looking for because the answer is 50%. I looked at this as saying you take the mean return of 11% and add the standard deviation of 8.75% and that would tell you that it fell above the mean at 18.75% in the first category which is 68%. Please tell me when I just picture that returns are 50% above the mean and 50% below the mean or I do this calculation to determine how many standard deviations above the mean. I understand what it is but just not sure how to approach this type of

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To determine the probability that the mutual funds return next year will be greater than 11 we need ... View the full answer