Risk Theory-computing the risk function

act3

1. The problem statement, all variables and given/known data
Let X~U(0,1). Let the loss function be L(x,y) = (x-y)^4.
a. Compute the risk function R(y) here explicitly. What kind of function is it here?


2. Relevant equations
let Y=1/2


3. The attempt at a solution

I know you have to find the first and second derivatives of the loss function.
dL(X,y)/dy= -4(x-y)^3
d^2L(X,y)/dy^2= 12(x-y)^2

I don't know where to go from here though. Any help would be much appreciated!
1. The problem statement, all variables and given/known data



2. Relevant equations



3. The attempt at a solution
1. The problem statement, all variables and given/known data



2. Relevant equations



3. The attempt at a solution
1. The problem statement, all variables and given/known data



2. Relevant equations



3. The attempt at a solution