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4. Consider two random variables, X and Y. X is continuous and uniformly distributed between -1 and 1. Y is discrete with equal probability on
4. Consider two random variables, X and Y. X is continuous and uniformly distributed between -1 and 1. Y is discrete with equal probability on -1 and 1. a. Do the two random variables have the same mean? b. Compute their variances. c. Draw their cumulative probability distributions. d. Using your graph, explain which distribution is riskier in the Stiglitz-Rothschild sense. e. Find the random variable that needs to be added to the less risky random variable in order to replicate the riskier one
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