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A private equity firm is evaluating two alternative investments. Although the returns are? random, each? investment's return can be described using a normal distribution. The first investment has a mean return of ?$2,000,000 with a standard deviation of ?$175,000. The second investment has a mean return of ?$2,175, 000 with a standard deviation of ?$200, 000. Complete parts a through c below.
a. How likely is it that the first investment will return ?$1 ,700, 000 or less?
b. How likely is it that the second investment will return ?$1,700,000 or? less?
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