Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Using the random variables X and Y from Table 2.2, consider two new random variables W = 4 + 8X and V = 11 - 2Y. Compute (a) E(W) and E(V); (b) J2W and J2V; and (c) JWV and corr(W, V).
Transcribed Image Text:TABLE 2.2 Joint Distribution of Weather Conditions and Commuting Times
Rain (X = 0)
0.15
No Rain (X = 1)
Total
Long commute (Y = 0)
Short commute (Y = 1)
0.07
0.22
0.15
0.63
0.78
Total
0.30
0.70
1.00
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