Let X, Y each be random variables with means X = Y = 3 and standard deviations
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Question:
Let X, Y each be random variables with means μX = μY = 3 and standard deviations σX = 4 and σY = 2.
(a) Compute σ2X−Y if X and Y are independent.
(b) Compute σ2X−Y if X and Y have correlation ρ = 0.5.
Please show and demonstrate how to do each step of the question - I have no idea where to begin! Thanks.
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Business Communication Building Critical Skills
ISBN: 978-0077637194
6th edition
Authors: Kitty Locker, Stephen Kaczmarek
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