A fair die is rolled. Let (Y) be the face value showing, 1, 2, 3, 4, 5,

Question:

A fair die is rolled. Let \(Y\) be the face value showing, 1, 2, 3, 4, 5, or 6 with each having the probability \(1 / 6\) of occurring. Let \(X\) be another random variable that is given by

image text in transcribed

a. Find \(E(Y), E\left(Y^{2}\right)\), and \(\operatorname{var}(Y)\).

b. What is the probability distribution for \(X\) ? Find \(E(X), E\left(X^{2}\right)\), and \(\operatorname{var}(X)\).

c. Find the conditional probability distribution of \(Y\) given each \(X\).

d. Find the conditional expected value of \(Y\) given each value of \(X, E(Y \mid X)\).

e. Find the probability distribution of \(Z=X Y\). Show that \(E(Z)=E(X Y)=E\left(X^{2}\right)\).

f. Find \(\operatorname{cov}(X, Y)\).

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles Of Econometrics

ISBN: 9781118452271

5th Edition

Authors: R Carter Hill, William E Griffiths, Guay C Lim

Question Posted: