2. Let W, X, Y, and Z be random variables such that: (i) Cov(W, W) =...
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2. Let W, X, Y, and Z be random variables such that: (i) Cov(W, W) = Cov(X, X) = Cov(Y,Y)= Cov(Z, Z) = 0.0802 - (ii) All other covariances are each equal to -0.0123. Calculate: Var(W+X+Y+Z). Round your final answer to four decimal places. 3. Consider a random sample of three auto insurance losses (X₁, X2, X3) drawn from an exponential distribution with mean 500. Let the order statis- tics be denoted as Y₁, Y2, Y3. Determine the probability that the sample median is less than or equal to 500. Round your final answer to four decimal places. [Hint: start by listing all the cases of (X₁, X2, X3) which would allow the sample median to be less than or equal to 500. The Order Statistics resources provided in the prior module might also be helpful.] 2. Let W, X, Y, and Z be random variables such that: (i) Cov(W, W) = Cov(X, X) = Cov(Y,Y)= Cov(Z, Z) = 0.0802 - (ii) All other covariances are each equal to -0.0123. Calculate: Var(W+X+Y+Z). Round your final answer to four decimal places. 3. Consider a random sample of three auto insurance losses (X₁, X2, X3) drawn from an exponential distribution with mean 500. Let the order statis- tics be denoted as Y₁, Y2, Y3. Determine the probability that the sample median is less than or equal to 500. Round your final answer to four decimal places. [Hint: start by listing all the cases of (X₁, X2, X3) which would allow the sample median to be less than or equal to 500. The Order Statistics resources provided in the prior module might also be helpful.]
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answer 2 Calculate VarWXYZ We are given the covariances and asked to find the variance of the sum of random variables W X Y and Z The variance of a su... View the full answer
Related Book For
Probability And Statistics
ISBN: 9780321500465
4th Edition
Authors: Morris H. DeGroot, Mark J. Schervish
Posted Date:
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