In: Statistics and Probability
Assume that X, Y, and Z are independent random variables and that each of the random variables have a mean of 1. Further, assume σX = 1, σY = 2, and σZ = 3. Find the mean and standard deviation of the following random variables:
a. U = X + Y + Z
b. R = (X + Y + Z)/3
c. T = 2·X + 5·Y
d. What is the correlation between X and Y?
e. What is the covariance between Q and G, where Q = 2·Y + 3 and G = 4·Z - 6?