Question: Determine the covariance and correlation for the following joint probability distribution: x 1 0.5 0.5 1 y 2 1 1 2 fXY (x, y) 1/8

Determine the covariance and correlation for the following joint probability distribution:
x –1 –0.5 0.5 1
y –2 –1 1 2
fXY (x, y) 1/8 ¼ ½ 1/8

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