Given below is a bivariate distribution for the random variables a: and y. ay) w y 0.3 7D 80 0.5 20 50 0.2 50 60 a. Compute the expected value and the variance for :c and y. E(m) = Eh!) = Verbs) = Var(y) = b. Develop a probability distribution for a: + y (to 2 decimals). m-l-y f(m+'y) 150 70 110 1:. Using the result of part (b), compute E(:c + y) and Var(:v + y) . E(:r + y) = Var(:c + y) = d. Compute the covariance and correlation for m and 3;. If required, round your answers to two decimal places. Covariance = Correlation = The random variables a: and y are . e. The variance of the sum of :c and y is the sum of the individual variances. By how much