2. A real estate agent is interested in the relationship between the number of lines in a newspaper advertisement for an apartment and the volume of enquiries from potential renters. Let volume of enquiries be denoted by the random variable X, with the value O for little interest, 1 for moderate interest and 2 for heavy interest. The real estate agent estimated the joint probability function shown in the accompanying table. Number of Lines (Y) Number of Enquiries (X) 3 0.09 0.14 0.07 4 0.07 0.23 0.16 5. 0.03 0.10 0.11 a. Find the joint cumulative probability function at X= 1, Y=4 and interpret your result. b. Find and interpret the condition probability function for Y, given X=0. c. Find and interpret the condition probability function for X, given Y=5. d. Find and interpret the covariance between X and Y. e. Are number of lines in the advertisement and volume of enquiries independent of one another?

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2. A real estate agent is interested in the relationship between the number of lines in a newspaper advertisement
for an apartment and the volume of enquiries from potential renters. Let volume of enquiries be denoted by
the random variable X, with the value O for little interest, 1 for moderate interest and 2 for heavy interest. The
real estate agent estimated the joint probability function shown in the accompanying table.
Number of
Number of Enquiries (X)
Lines (Y)
1
0.09
0.14
0.07
4
0.07
0.23
0.16
0.03
0.10
0.11
a. Find the joint cumulative probability function at X=1, Y=4 and interpret your result.
b. Find and interpret the condition probability function for Y, given X=0.
c. Find and interpret the condition probability function for X, given Y=5.
d. Find and interpret the covariance between X and Y.
e. Are number of lines in the advertisement and volume of enquiries independent of one another?
Transcribed Image Text:2. A real estate agent is interested in the relationship between the number of lines in a newspaper advertisement for an apartment and the volume of enquiries from potential renters. Let volume of enquiries be denoted by the random variable X, with the value O for little interest, 1 for moderate interest and 2 for heavy interest. The real estate agent estimated the joint probability function shown in the accompanying table. Number of Number of Enquiries (X) Lines (Y) 1 0.09 0.14 0.07 4 0.07 0.23 0.16 0.03 0.10 0.11 a. Find the joint cumulative probability function at X=1, Y=4 and interpret your result. b. Find and interpret the condition probability function for Y, given X=0. c. Find and interpret the condition probability function for X, given Y=5. d. Find and interpret the covariance between X and Y. e. Are number of lines in the advertisement and volume of enquiries independent of one another?
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