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ECO-5340 Decision Making Under Uncertainty Problem Set 4. Measures of Risk Spring, 2017 DUE DATE IS WEDNESDAY, March 22nd AT 6.31 PM IN CLASS ~ 1....
Decision Making Under Uncertainty
Problem Set 4. Measures of Risk
1. Consider the following two random variables: X
~
has a (continuous) uniform density on [-1, 1],
while Y
~
is a discrete random variable defined by ( -1, 1 ; 1/2, 1/2 ).
1.1 The mean of X
~
is ______, and the mean of Y
~
is _______.
1.2 The variance of X
~
is ______, and the variance of Y
~
is _______.
1.3 In the diagram below, draw the density function of X
~
, and the probability distribution of Y
~
.