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. 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]? (d) Obtain E[Y]. That is, what is the expected value of your 2023 fantasy basketball budget? (e) Golden State Warriors won the 2022 NBA finals. Their estimated 2022 payroll is about $194 million. Would your 2023 fantasy basketball budget be on average larger than Golden State Warriors' 2022 payroll? Explain briefly.
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. 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]? (d) Obtain E[Y]. That is, what is the expected value of your 2023 fantasy basketball budget? (e) Golden State Warriors won the 2022 NBA finals. Their estimated 2022 payroll is about $194 million. Would your 2023 fantasy basketball budget be on average larger than Golden State Warriors' 2022 payroll? Explain briefly.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
![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]?
(d) Obtain E[Y]. That is, what is the expected value of your 2023 fantasy
basketball budget?
(e) Golden State Warriors won the 2022 NBA finals. Their estimated
2022 payroll is about $194 million. Would your 2023 fantasy basketball
budget be on average larger than Golden State Warriors' 2022 payroll?
Explain briefly.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F10fa051a-d9bc-4043-b538-02be11dabc4b%2Fb78c1580-67c9-458b-bf8f-9657af0eb0c5%2Fpjhut4v_processed.png&w=3840&q=75)
Transcribed Image Text: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]?
(d) Obtain E[Y]. That is, what is the expected value of your 2023 fantasy
basketball budget?
(e) Golden State Warriors won the 2022 NBA finals. Their estimated
2022 payroll is about $194 million. Would your 2023 fantasy basketball
budget be on average larger than Golden State Warriors' 2022 payroll?
Explain briefly.
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