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How would you solve the below? Rounded to nearest two decimal places. Use the probability distribution given in the table below and consider two new
How would you solve the below? Rounded to nearest two decimal places. Use the probability distribution given in the table below and consider two new random variables, W = 2+ 8X and V = 9 + 5Y, to answer the following questions
Joint Distribution of Weather Conditions and Commuting Times
Rain (x=0) | No Rain (x=1) | Total | |
Long commute (Y = 0) | 0.36 | 0.02 | 0.38 |
Short commute (Y = 1) | 0.38 | 0.24 | 0.62 |
Total | 0.74 | 0.26 | 1.00 |
1) Compute the mean of W. E(W) =
2) Compute the mean of V. E(V) =
3) Compute the variance of W. =
4) Compute the variance of V. =
5) Compute the covariance between W and V =
6) Compute the correlation between W and V =
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