If X and Y Are ____________________,The Variance of Their Sum

question 94

Short Answer

If X and Y are ____________________,the variance of their sum is equal to the sum of their variances.

---

Definitions:

Quaker State Oil

A brand known for producing motor oil and other automotive lubricants and products, with a long history in the United States.

Price-elastic

A product or service is considered price-elastic when its demand significantly changes in response to a change in its price; high elasticity indicates significant changes in demand.

Linear Demand Curve

A graphical representation showing a direct relationship between price and quantity demanded, where a change in price leads to a proportional change in quantity demanded.

Price-elastic

A characteristic of goods where their demand or supply changes significantly when their price changes.