Use the probability distribution given in the table below and consider two new random variables, W= 2 + 6X and V=9+5Y, to answer the following questions Joint Distribution of Weather Conditions and Commuting Times Rain (X = 0) No Rain (X1) Total Long commute (Y = 0) 0.43 0.11 0.54 Short commute (Y= 1) Total 0.15 0.31 0.46 0.58 0.42 1.00 Compute the mean of W. Compute the mean of V. Compute the variance of W. E(W) = 4.52 (Round your response to two decimal places) E(V) = 11.3 (Round your response to two decimal places) (Round your response to four decimal places) Compute the following probabilities: If Y is distributed N (2,4), Pr (Y≤4) = 0.8413. (Round your response to four decimal places.) If Y is distributed N (3,4), Pr (Y> 2) = ☐. (Round your response to four decimal places.)

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter17: Making Decisions With Uncertainty
Section: Chapter Questions
Problem 7MC
Question

please help me with both the questions. thank you

Use the probability distribution given in the table below and consider two new random variables, W= 2 + 6X
and
V=9+5Y, to answer the following questions
Joint Distribution of Weather Conditions and Commuting Times
Rain (X = 0)
No Rain (X1)
Total
Long commute (Y = 0)
0.43
0.11
0.54
Short commute (Y= 1)
Total
0.15
0.31
0.46
0.58
0.42
1.00
Compute the mean of W.
Compute the mean of V.
Compute the variance of W.
E(W) = 4.52
(Round your response to two decimal places)
E(V) = 11.3
(Round your response to two decimal places)
(Round your response to four decimal places)
Transcribed Image Text:Use the probability distribution given in the table below and consider two new random variables, W= 2 + 6X and V=9+5Y, to answer the following questions Joint Distribution of Weather Conditions and Commuting Times Rain (X = 0) No Rain (X1) Total Long commute (Y = 0) 0.43 0.11 0.54 Short commute (Y= 1) Total 0.15 0.31 0.46 0.58 0.42 1.00 Compute the mean of W. Compute the mean of V. Compute the variance of W. E(W) = 4.52 (Round your response to two decimal places) E(V) = 11.3 (Round your response to two decimal places) (Round your response to four decimal places)
Compute the following probabilities:
If Y is distributed N (2,4), Pr (Y≤4) = 0.8413. (Round your response to four decimal places.)
If Y is distributed N (3,4), Pr (Y> 2) = ☐. (Round your response to four decimal places.)
Transcribed Image Text:Compute the following probabilities: If Y is distributed N (2,4), Pr (Y≤4) = 0.8413. (Round your response to four decimal places.) If Y is distributed N (3,4), Pr (Y> 2) = ☐. (Round your response to four decimal places.)
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