Stocks X and Y have the following probability distributions of expected future returns:

Probability X Y

0.1 -10% -35%

0.2 -5% 0%

0.4 15% 15%

0.2 20% 30%

0.1 35% 45%

a. Calculate the expected returns for Stock X and Stock Y.

b. Calculate the standard deviations of expected returns for Stock X and Stock Y.

c. Calculate the coefficients of variation (CVs) for Stock X and Stock Y. Which stock appears less risky to you? Explain your answer.