Given below is a bivariate distribution for the random variables x and y . f(x, y) x y 0.5 50 80 0.3 30 50 0.2 40 60 (a) Compute the expected value and the variance for x and y . E(x) = E(y) = Var(x)...

Compute the expected value and the variance forx andy.

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Develop a probability distribution for

Using the result of part (b), compute

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Compute the covariance and correlation forx andy. (Round your answer for correlation to two decimal places.)

covariancecorrelation

Arex andy positively related, negatively related, or unrelated?

The random variablesx andy are  ---Select--- positively related negatively related unrelated .

Is the variance of the sum ofx andy bigger, smaller, or the same as the sum of the individual variances? Why?

The variance of the sum ofx andy is  ---Select--- greater than  less than unrelated the sum of the variances by two times the covariance, which occurs whenever two random variables are  ---Select--- positively related negatively related unrelated .