A Financial Analyst Wanted to Determine the Mean Annual Return

Multiple Choice

A financial analyst wanted to determine the mean annual return on mutual funds. A random sample of 60 returns shows a mean of 12%. If the population standard deviation is assumed to be 4%, estimate with 95% confidence the mean annual return on all mutual funds.

A) 11.325% to 13.012%
B) 10.988% to 14.025%
C) 11.325% to 14.025%
D) 10.988% to 13.012%
E) 8% to 16%