Charley Chicken and Bradley Bee are brands of canned tuna. During a week a certain amount...

 

Transcribed Image Text:

"Charley Chicken" and "Bradley Bee" are brands of canned tuna. During a week a certain amount of advertising appears for these products. There may be no advertising, one form of advertising (newspaper coupon), or two forms of advertising (coupon and a special store display). Let C denote the level of advertising for Charley Chicken. It can take the values c=0, 1 or 2. Let B denote the level of advertising for Bradley Bee; B can take the values b=0, 1 or 2. Suppose the following table represents the joint probability distribution of the advertising levels for these two brands of canned tuna. Charley Chicken's Advertising: C Bradley Bee's Advertising: B 1 2 0 0 0.04 1 0.06 2 0.08 0.06 0.16 0.12 0.08 0.18 0.22 Find the covariance between the advertising strategies of these two companies. "Charley Chicken" and "Bradley Bee" are brands of canned tuna. During a week a certain amount of advertising appears for these products. There may be no advertising, one form of advertising (newspaper coupon), or two forms of advertising (coupon and a special store display). Let C denote the level of advertising for Charley Chicken. It can take the values c=0, 1 or 2. Let B denote the level of advertising for Bradley Bee; B can take the values b=0, 1 or 2. Suppose the following table represents the joint probability distribution of the advertising levels for these two brands of canned tuna. Charley Chicken's Advertising: C Bradley Bee's Advertising: B 1 2 0 0 0.04 1 0.06 2 0.08 0.06 0.16 0.12 0.08 0.18 0.22 Find the covariance between the advertising strategies of these two companies.

Answer rating: 100% (QA)

The correct answer is d 0028 Attached below the working Using the formula Covariance XY E... View the full answer