Given below is a bivariate distribution for the random variables x and y. a. Compute the expected

Question:

Given below is a bivariate distribution for the random variables x and y.

a. Compute the expected value and the variance for x and y.
b. Develop a probability distribution for x + y.
c. Using the result of part (b), compute E(x + y) and Var (x + y).
d. Compute the covariance and correlation for x and y. Are x and y positively related, negatively related, or unrelated?
e. Is the variance of the sum of x and y bigger, smaller, or the same as the sum of the individual variances? Why?

Distribution
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