I understand this problem until I calculate the Var (v+y). covariance and correlation Can you help me with my HW? Can I do this in excel? Given below is a bivariate distribution for the random variables x and y. f(x, y) x y 0.3 50 80 0.2 30 50 0.5 40 60 (a) Compute the expected value and the variance for x and y. E(x)=41 E(y)=64 Var(x)=49 Var(y)=124 (b) Develop a probability distribution for x + y. x + y f(x + y) 130 .3 80 .2 100 .5 (c) Using the result of part (b), compute E(x + y) and Var(x + y). E(x + y) =105 Var(x + y)= Compute the covariance and correlation for x and y. (Round your answer for correlation to two decimal places.) covariance correlation

I understand this problem until I calculate the Var (v+y). covariance and correlation Can you help me with my HW? Can I do this in excel? Given below is a bivariate distribution for the random variables x and y. f(x, y) x y 0.3 50 80 0.2 30 50 0.5 40 60 (a) Compute the expected value and the variance for x and y. E(x)=41 E(y)=64 Var(x)=49 Var(y)=124 (b) Develop a probability distribution for x + y. x + y f(x + y) 130 .3 80 .2 100 .5 (c) Using the result of part (b), compute E(x + y) and Var(x + y). E(x + y) =105 Var(x + y)= Compute the covariance and correlation for x and y. (Round your answer for correlation to two decimal places.) covariance correlation

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

I understand this problem until I calculate the Var (v+y). covariance and correlation Can you help me with my HW? Can I do this in excel?

Given below is a bivariate distribution for the random variables x and y.

f(x, y)	x	y
0.3	50	80
0.2	30	50
0.5	40	60

(a)

Compute the expected value and the variance for x and y.

E(x)=41

E(y)=64

Var(x)=49

Var(y)=124

(b)

Develop a probability distribution for

x + y.

x + y	f(x + y)
130	.3
80	.2
100	.5

(c)

Using the result of part (b), compute

E(x + y)

and

Var(x + y).

E(x + y)

=105

Var(x + y)=

Compute the covariance and correlation for x and y. (Round your answer for correlation to two decimal places.)

covariance

correlation

Definition Definition Relationship between two independent variables. A correlation tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

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