The table below shows the performance of two shares x and y under four different economic conditions and their associated probabilities of occurrence

Economic condition	Rate of return (%)		Probabilities
Growth Expansion Stagnation Recession	x	y	X	y
	18.50 12.75 1.25 -6.00	16.50 14.00 1.80 -4.50	0.25 0.25 0.25 0.25	0.20 0.45 0.20 0.15

Required;

1. The expected rate of return for shares x and y. (4 Marks)
2. The standard deviation of returns for shares x and y. (4 Marks)
3. The coefficient of variation of returns for shares x and y. (4 Marks)
4. Advice an investor on the preferred share. (2 Marks)