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Unformatted text preview: b. What is the probability that x is equal to 1 and Y is equal to 2? c. What is the probability that x is equal to 1 if Y is equal to 2? d. What is the expected value of X and the expected value of Y? e. Calculate the covariance of X and Y. f. Calculate the correlation of X and Y and describe what this means. g. Suppose there is a linear function of X and Y, g(x,y) = 6X + 0.25Y. Compute the mean and the variance for the linear function g(x,y). 4. For each of the following, assume X 1 , X 2 , X 3 ,……X 100 are 100 independent random variables with mean 10 and standard deviation 5. Find mean and variance of random variable Y defined in each of the following. a. Y = X 1 – 2X 2 b. Y=(X 310)/5 c. 100 ) ... ( 100 2 1 x x x Y + + =...
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This homework help was uploaded on 04/22/2008 for the course ECON 320 taught by Professor Martin during the Spring '08 term at Allegheny.
 Spring '08
 Martin
 Economics

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