Solve them correctly

8. Suppose that X and Y have a bivariate normal distribution with Var[X ] = 1, Var[Y] = 2, E[X] = 3, E[Y] = 7, and pxy = 0.5. Compute the following. Hint: Use Equation 5.22, definition of correlation, and the properties of conditional distributions of normal random variables. This should only take a minute to finish!. . E[X2] . Cov[X, Y] . EY|X] when X = 3 . Var[X|Y] when Y = 1What are the main differences between traditional economics and behavioral economics? (in Traditional economics is mainly theoretical. Cl Behavioral economics does not take as a given that decision makers are rational. O Traditional economics assumes that decision makers are fully' informed. Economics that involves opinion about what ought to he or what should happen, rather than theories that could be tested, would he called... Select one: 0 scarcity macroeconomics subjective values microeconomics rationing free goods rational decisionmaking scarce goods economics normative economics positive economics OOOOOOOOOOO ceteris parihus Determine if the following items represent an example of positive economics or normative economics. The richest 1% of Americans should pay more taxes than the rest of the 99%. O Positive Economics O Normative Economics A decrease in the supply of coconut will increase the price of German O Normative Economics chocolate cake, a good which requires coconut shavings as a key ingredient O Positive Economics The higher the minimum wage, the higher the price of goods and services Normative Economics is likely to bo. OO Positive Economics Social welfare spending in Sweden occupies too large a portion of the O Positive Economics national budget. O Normative Economics