Refer to Exercise 42. Compute the covariance between x and y and then the value of the popu- lation correlation coefficient. Do these two vari- ables appear to be strongly related? Explain.


I mostly need help with part C of 42 and question 45.  This is ungraded homework.


Refer to Exercise 42. Compute the covariance<br>between x and y and then the value of the popu-<br>lation correlation coefficient. Do these two vari-<br>ables appear to be strongly related? Explain.<br>

Extracted text: Refer to Exercise 42. Compute the covariance between x and y and then the value of the popu- lation correlation coefficient. Do these two vari- ables appear to be strongly related? Explain.
42. A large insurance agency provides services to a<br>number of customers who have purchased both a<br>homeowner's policy and an automobile policy. For<br>each type of policy, a deductible amount must be<br>specified. Let x denote the homeowner's deductible<br>amount and y denote the automobile deductible<br>amount for a customer who has both types of poli-<br>cies. The joint mass function of x and y is as follows:<br>y<br>auto<br>f(x, y)<br>250<br>500<br>200<br>.20<br>.10<br>.20<br>me<br>500<br>.05<br>.15<br>.30<br>a. What proportion of customers have $500 de-<br>ductible amounts for both types of policies?<br>b. What proportion of customers have both de-<br>ductible amounts less than $500?<br>c. What is the marginal mass function of x? What<br>is the marginal mass function of y?<br>

Extracted text: 42. A large insurance agency provides services to a number of customers who have purchased both a homeowner's policy and an automobile policy. For each type of policy, a deductible amount must be specified. Let x denote the homeowner's deductible amount and y denote the automobile deductible amount for a customer who has both types of poli- cies. The joint mass function of x and y is as follows: y auto f(x, y) 250 500 200 .20 .10 .20 me 500 .05 .15 .30 a. What proportion of customers have $500 de- ductible amounts for both types of policies? b. What proportion of customers have both de- ductible amounts less than $500? c. What is the marginal mass function of x? What is the marginal mass function of y?

Jun 10, 2022
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