1-30-09 - Q What is the expected value and variance of...

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Economic Statistics – Class Notes – 1/30/09 7. Finally, given two INDEPENDENT random variables – random variable X with mean and random variable Y with mean
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Because the two random variables are independent , we can say: After we have proved the rules, we can just use the rules APPLYING THE RULES OF EXPECTATION Suppose the random variable has mean
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Unformatted text preview: Q: What is the expected value and variance of: Given two independent random variables: Problem – Find the expected value and variance of: Problem: Find the variance of: 6. Standardizing a Random Variable – to standardize, subtract the mean from the random variable and divide by its standard deviation. Q: What properties does ANSWER :...
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