Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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An actuary analyzes a company’s annual personal auto claims, M and annual commercial
auto claims, N . The analysis reveals that V ar(M ) = 1600, V ar(N ) = 900, and the
correlation between M and N is ρ = 0.64. Compute V ar(M + N ). 

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