Suppose that you enter a fantasy basketball league. Suppose that the 2022team budget, say X, is randomly drawn from a uniform distribution onthe 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), the2023 team budget, say Y, is randomly drawn from a uniform distributionon the interval [x, 210]. In other words, the 2023 budget is at least as largeas 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]?(d) Obtain E[Y]. That is, what is the expected value of your 2023 fantasybasketball budget?(e) Golden State Warriors won the 2022 NBA finals. Their estimated2022 payroll is about $194 million. Would your 2023 fantasy basketballbudget be on average larger than Golden State Warriors' 2022 payroll?Explain briefly.

The pdf of a uniform distribution on [a, b], when a and b are the minimum and maximum values,…

Answered: Suppose that you enter a fantasy…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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