Hello! there are two problems:
1) the random variable X has the following pdf : 1/4 if 0<x<4, and 0 otherwise.
determine the pdf and cdf for the random variable Y=X^1/2.
what is the expected value of Y?
what is the variance of Y?
2) calculate the mean and the variance of returns if they are modeled according to the following pdf: f(x)=1/4 if -1<x<3 , and otherwise f(x)=0.
thank you for any advice!