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Group of mutual funds earned varying annual rates

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Reference no: EM132464256

A group of mutual funds earned varying annual rates of return in the last year. These rates of return are normally distributed with a mean of 7% and a standard deviation of 16%.

One mutual fund in this group managed to earn a rate of return that was double that of this group's average that year. This performance would put the fund in the top X% of those funds in that year.

Calculate X%. Give your answer to 1 decimal place.

Reference no: EM132464256

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