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Consider the joint probability distribution below. Complete parts (a) through (c). X 1 2 Y 0.20 0.25 0.30 0.25 X 1 2 P(y) y -

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Consider the joint probability distribution below. Complete parts (a) through (c). X 1 2 Y 0.20 0.25 0.30 0.25 X 1 2 P(y) y - O 0.20 0.25 45 0.30 0.25 55 P(x) .5 .5 (Type integers or decimals.) b. Compute the covariance and correlation for X and Y. Cov(X, Y) = (Round to four decimal places as needed.) Corr(X, Y) = (Round to three decimal places as needed.) c. Compute the mean and variance for the linear function W = X + Y. Hw = (Round to two decimal places as needed.) ow = (Round to four decimal places as needed.)

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