Question
How would you solve the below? In a given population for beverage drinkers, an individual's per kg expenditure on tea (T) and their per kg
How would you solve the below?
In a given population for beverage drinkers, an individual's per kg expenditure on tea (T) and their per kg expenditure on coffee (C) have a bivariate normal distribution with covariance 0.15. An individual's per kg expenditure on tea is distributed with mean $2.85 and variance 0.16. An individual's per kg expenditure on coffee is distributed with mean $2.32 and variance 0.09.
1) If each individual in the population drinks 2 kg of tea and 3 kg of coffee, the mean total expenditure on beverages is $____ with a variance of ____?
2) If T and C have a bivariate normal distribution with covariance zero, the mean total expenditure on beverages is $ _____ with a variance of _____?
3) If X and Y have a bivariate distribution with covariance zero, this implies that the variables show _____?
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