The joint distribution of two random variables X and Y is as follows, Compute the following. (i) E(X) and E(Y) (ii) E(XY) (iii) 𝜎𝑋 and 𝜎𝑌 (iv) COV(X,Y) (v) 𝜌(𝑋, 𝑌)
| x\y | -4 | 2 | 7 |
| 1 | 1/8 | 1/4 | 1/8 |
| 5 | 1/4 | 1/8 | 1/8 |
Answer:-
The joint distribution of two random variables X and Y is as follows