Consider a population of 1024 mutual funds that primarily invest
in large companies. You have determined that
muμ,the mean one-year total percentage return achieved by
all the funds, is
7.80 and that σ, the standard deviation, is 3.25
Complete (a) through (c).
a.
According to the empirical rule, what percentage of these
funds is expected to be within
±3 standard deviations of the mean? ________
b.
According to the Chebyshev rule, what percentage of these
funds are expected to be within
±2 standard deviations of the mean?__________
(Round to two decimal places as needed.)
c.
According to the Chebyshev rule, at least
93.75% of these funds are expected to have one-year total
returns between what two amounts?
Between _____and__________
(Round to two decimal places as needed.)