Answer
A one-star mutual fund is in the bottom 10% of investment class, which is defined as 10% of investment class lies below the 10th percentile and a five-star mutual fund is at 90th percentile investment class is defined as investment class less than or equal to 90th percentile.
Work Step by Step
A one-star mutual fund is in the bottom 10% investment class and a five-star mutual fund is at the 90th percentile investment class, which is defined as the investment class above the bottom 90%, within the top 10% of the rank five-star mutual funds.
