The probability distribution of the number of students absent on Mondays, is as follows: X O 1 2 3 4567 f(x) 0.02 0.03 0.26 0.34 0.22 0.08 0.04 0.01 (a) What is the probability that more than 3 students are absent. (b) Compute the expected value of the random variable X. Interpret this expected value. (c) Compute the variance and standard deviation of the random variable X. (d) Compute the expected value and variance of Y : (e) Compute the covariance Cov(X, Y) = 7X+ 3. (f) What is the value of the ratio Cov(X,Y)/Var(X) ? (g) What is the value of Cov(X, Y)/Var(X) for Y = ß0 + ß₁X ? (For this exrcise, you can use excel. No need to show all calculations, just specify the formulas and present the final values.) (a) (b) (c) (d) (e) (f) (g)

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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The probability distribution of the number of students absent on Mondays, is as follows:
X O
1
2
3
4567
f(x) 0.02 0.03 0.26 0.34 0.22 0.08 0.04 0.01
(a) What is the probability that more than 3 students are absent.
(b) Compute the expected value of the random variable X. Interpret this expected value.
(c) Compute the variance and standard deviation of the random variable X.
(d) Compute the expected value and variance of Y :
(e) Compute the covariance Cov(X, Y)
= 7X+ 3.
(f) What is the value of the ratio Cov(X,Y)/Var(X) ?
(g) What is the value of Cov(X, Y)/Var(X) for Y = ß0 + ß₁X ?
(For this exrcise, you can use excel. No need to show all calculations, just specify the formulas and present the final values.)
(a)
(b)
(c)
(d)
(e)
(f)
(g)
Transcribed Image Text:The probability distribution of the number of students absent on Mondays, is as follows: X O 1 2 3 4567 f(x) 0.02 0.03 0.26 0.34 0.22 0.08 0.04 0.01 (a) What is the probability that more than 3 students are absent. (b) Compute the expected value of the random variable X. Interpret this expected value. (c) Compute the variance and standard deviation of the random variable X. (d) Compute the expected value and variance of Y : (e) Compute the covariance Cov(X, Y) = 7X+ 3. (f) What is the value of the ratio Cov(X,Y)/Var(X) ? (g) What is the value of Cov(X, Y)/Var(X) for Y = ß0 + ß₁X ? (For this exrcise, you can use excel. No need to show all calculations, just specify the formulas and present the final values.) (a) (b) (c) (d) (e) (f) (g)
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