Number of Birds Alana and Eva Are Sisters.Let X Denote the Number

question 57

Essay

Number of Birds
Alana and Eva are sisters.Let X denote the number of birds that Alana may have in the next two years,and let Y denote the number of birds Eva may have during the same period.The marginal probability distributions of X and Y are shown below. ​ ​
-{Number of Birds Narrative} Verify that V(X + Y)= V(X)+ V(Y).Did you expect this result? Why?

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Definitions:

Weak Axiom

In economic theory, a principle stating that if a consumer prefers bundle A to bundle B, then they will not prefer B to A when prices change, keeping income constant.

Revealed Preference

A theory suggesting that consumers' preferences can be determined by observing their purchasing behavior and the choices they make among different goods.

Weak Axiom

In the context of consumer choice theory, it is a postulate stating that if a consumer prefers bundle A over bundle B when both are affordable, then she will not choose B when A becomes more affordable.

Revealed Preferences

The theory that consumers' preferences can be determined by their purchasing habits and behavior rather than through their expressed desires or responses to surveys.