The file S04_31.xlsx contains the joint probability distribution of price P per unit and demand D for

Question:

The file S04_31.xlsx contains the joint probability 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?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...