You are considering two securities with the following possible rates of return: Security X State Probability Return Boom 30% 13% Normal 40% 8% Recession 30% 2% Security Y State Probability Return Boom 20% 40% Normal 60% 15% Recession 20% (15%) (10 marks) 1. Analyze the expected rate of return for both securities. 2. Evaluate the standard deviation of the returns for both securities. (10 marks) 3. Explain which security is recommended for investment