Suppose the returns of a particular group of mutual funds, Applied Statistics

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Suppose the returns of a particular group of mutual funds

Suppose the returns of a particular group of mutual funds are normally distributed with a mean of 12.4 and a standard deviation of 4.7%. I f the manager of a particular fund wants his fund to be in the top 5% of funds with the highest return, what return must his fund have? (please round your answer to 2 decimal places).

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Applied Statistics: Suppose the returns of a particular group of mutual funds

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Applied Statistics: Suppose the returns of a particular group of mutual funds

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