Problem #1) Random variables X and Y are jointly lognormal with means μx = 100 and μy = 200, standard deviations σx = 40 and σy = 60, and correlation coefficient Pxy = 0.5. = 1) Write an expression for the joint PDF fxy(x, y) and plot its contours. 2) Write an expression for the conditional PDF fxly (xly) and plot it for y = 100, 200 and 300. On the same graph, plot the marginal PDF fx (x). Observe the change in the condi- tional PDF of X depending on the given value of Y.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.4: Multiple Regression Models
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Problem #1)
Random variables X and Y are jointly lognormal with means μx = 100 and μy = 200, standard
deviations σx = 40 and σy = 60, and correlation coefficient Pxy
= 0.5.
=
1) Write an expression for the joint PDF fxy(x, y) and plot its contours.
2) Write an expression for the conditional PDF fxly (xly) and plot it for y = 100, 200 and
300. On the same graph, plot the marginal PDF fx (x). Observe the change in the condi-
tional PDF of X depending on the given value of Y.
Transcribed Image Text:Problem #1) Random variables X and Y are jointly lognormal with means μx = 100 and μy = 200, standard deviations σx = 40 and σy = 60, and correlation coefficient Pxy = 0.5. = 1) Write an expression for the joint PDF fxy(x, y) and plot its contours. 2) Write an expression for the conditional PDF fxly (xly) and plot it for y = 100, 200 and 300. On the same graph, plot the marginal PDF fx (x). Observe the change in the condi- tional PDF of X depending on the given value of Y.
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