3. (8 points) The probability distribution of returns on two assets are given as follows: Asset X Asset Y Probability .3 .4 .3 Return -5% 3% 10% Probabilityc7r% Return .2 .4 4 0% 8% Answer the following questions (a) Calculate the mean and variance of the returns for securities X and Y. (b) If you had to choose wither X or Y, which would you prefer? (c) If the correlation coefficient of the returns of the two securities if.15, what is the covariance of returns for X and Y? (d) Given the covariance value you computed in part (c), find the mean and variance for a portfolio comprised of 20% of X and 80% of Y