O Suppose that you enter a fantasy basketball league. Suppose that the 2022 team budget, say X, is randomly drawn from a uniform distribution on the interval [90, 210], where the unit is U.S. million dollars. In addition, suppose that after the value X = x has been observed (90 < x < 210), the 2023 team budget, say Y, is randomly drawn from a uniform distribution on the interval [x, 210]. In other words, the 2023 budget is at least as large as the 2022 budget. (a) For any given value of x (90 < x < 210), obtain E[Y|X = x]. (b) In view of part (i), obtain E[Y|X]. (c) What is the difference between E[Y|X = x] and E[Y|X]?

MATLAB: An Introduction with Applications
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O Suppose that you enter a fantasy basketball league. Suppose that the 2022
team budget, say X, is randomly drawn from a uniform distribution on
the interval [90, 210], where the unit is U.S. million dollars. In addition,
suppose that after the value X = x has been observed (90 < x < 210), the
2023 team budget, say Y, is randomly drawn from a uniform distribution
on the interval [x, 210]. In other words, the 2023 budget is at least as large
as the 2022 budget.
(a) For any given value of x (90 < x < 210), obtain E[Y|X = x].
(b) In view of part (i), obtain E[Y|X].
(c) What is the difference between E[Y|X = x] and E[Y|X]?
Transcribed Image Text:O Suppose that you enter a fantasy basketball league. Suppose that the 2022 team budget, say X, is randomly drawn from a uniform distribution on the interval [90, 210], where the unit is U.S. million dollars. In addition, suppose that after the value X = x has been observed (90 < x < 210), the 2023 team budget, say Y, is randomly drawn from a uniform distribution on the interval [x, 210]. In other words, the 2023 budget is at least as large as the 2022 budget. (a) For any given value of x (90 < x < 210), obtain E[Y|X = x]. (b) In view of part (i), obtain E[Y|X]. (c) What is the difference between E[Y|X = x] and E[Y|X]?
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