Question: Companies that sell stock mutual funds charge their investors expense fees to offset the costs of research and administrative activities. In 2007, the average expense fee as expressed as a percentage of total assets invested in the fund was .96% with a standard deviation of .33%.

1. Find the probability that a stock mutual fund has an expense fee less than 1.4%.
2. Find the probability that a stock mutual fund has an expense fee more than 1.2%.
3. Find the probability that a stock mutual fund has an expense fee between .87% and .93%.
4. What proportion of stock mutual funds has an expense fee less than .75% or more than 1.25%?
5. The expense fee for 87% of stock mutual funds is less than what value?

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