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Homework Help: Risk Theory-computing the risk function

  1. May 1, 2012 #1
    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
     
  2. jcsd
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