Question

The file S04_31.xlsx contains the joint probability distribution of price P per unit and demand D for a particular product in the coming quarter.
a. Are P and D independent random variables? Explain your answer.
b. If P and D are not independent random variables, which joint probabilities result in the same marginal probabilities for P and D as given in the file but make P and D independent of each other?



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  • CreatedApril 01, 2015
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