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5. For each of the following, describe in full detail how you could (in principle) perform by hand a simulation involving physical objects (coins, dice,
5. For each of the following, describe in full detail how you could (in principle) perform by hand a simulation involving physical objects (coins, dice, spinners, cards, boxes, etc) to estimate the quantity in question. Be sure you detail how you would set up and perform the simulation, what one repetition of the simulation entails, and how you would use the simulation results to estimate the object of interest. Note: you do NOT need to compute any numerical values or write any code. You D0 need to describe the process in words in full detail. (a) Approximate P(Y > 5|X > 3), where o X = min(U, V) I Y = U + V I U, V are independent, each with an Exponential(0.5) distribution (b) Approximat Cov(X(2),X(2.5)), where a {X (t),t 2 0} is a stochastic process .Xm=Y+ a Y, Z are independent, each with a Binomial(3, 0.2) distribution
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