(a) Suppose    X    and    Y    are    independent    random    variables    with    standard    deviations    3    and    2   respectively.        Define        Z    =    X    −    2Y    +    3.        What    is    the    standard    deviation    of    Z? (b) Suppose    X    and    Y    are    Poisson    random    variables.    X    has    a    mean    of    1    and    Y    has    a    mean    of    2.     X    and    Y    are    correlated    with    CORR (X,Y) =    0.5.     What    is    the    variance    of        X    +    Y    ?   (c) refer to the table.   What    is    the    variance    of    the    number    of    cards    held    by    a    person    from    this    group?

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(a) Suppose    X    and    Y    are    independent    random    variables    with    standard    deviations    3    and    2  
respectively.        Define        Z    =    X    −    2Y    +    3.        What    is    the    standard    deviation    of    Z?


(b) Suppose    X    and    Y    are    Poisson    random    variables.    X    has    a    mean    of    1    and    Y    has    a    mean    of    2.     X    and    Y    are    correlated    with    CORR (X,Y) =    0.5.     What    is    the    variance    of        X    +    Y    ?

 

(c) refer to the table. 

 What    is    the    variance    of    the    number    of    cards    held    by    a    person    from    this    group?

 

 

Number
Of Cards (X)
1
2
3
Number of Purchases in Week (Y)
3
0.08 0.13 0.09 0.06
0.03
0.08
0
0.01
1
0.08
0.03
2
0.06
0.09
0.08
4
0.03
0.07
0.08
Transcribed Image Text:Number Of Cards (X) 1 2 3 Number of Purchases in Week (Y) 3 0.08 0.13 0.09 0.06 0.03 0.08 0 0.01 1 0.08 0.03 2 0.06 0.09 0.08 4 0.03 0.07 0.08
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