Random variables Given independent random variables with means and standard deviations as shown, find the mean and standard deviation of: 0.5Y

foass77W

foass77W

Answered question

2021-05-27

Random variables Given independent random variables with means and standard deviations as shown, find the mean and standard deviation of: 0.5Y

Answer & Explanation

Nichole Watt

Nichole Watt

Skilled2021-05-28Added 100 answers

The mean and standard deviation is as follows:
E(0.5Y)=0.5E(Y)
=0.5×12
=6
V(0.5Y)=0.52V(Y)
=0.52V(Y)
SD(0.5Y)=0.5×SD(Y)
=0.5×3
=1.5

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