Given below is a bivariate distribution for the random variables x and y. f(x, y) x y 0.5 50 80 0.2 30 50 0.3 40 60 (a) Compute the expected value and the variance for x and y. E(x) = E(y) = Var(x) = Var(y) = (b) Develop a probability distribution for x + y. x + y f(x + y) 130 80 100 (c) Using the result of part (b), compute E(x + y) and Var(x + y). E(x + y) = Var(x + y) = (d) Compute the covariance and correlation for x and y. (Round your answer for correlation to two decimal places.) covariance correlation Are x and y positively related, negatively related, or unrelated?
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