Let X and Y Be Two Independent Random Variables with the Following

question 18

Essay

Let X and Y be two independent random variables with the following probability distributions: $$\begin{array}{l}\begin{array} { l | r r r } x & 1 & 2 & 3 \\\hline p ( x ) & 0.2 & 0.5 & 0.3\end{array}\\\begin{array} { l | r r r } y & - 1 & 0 & 1 \\\hline p ( y ) & 0.3 & 0.3 & 0.4\end{array}\end{array}$$ Find the probability distribution of the random variable X + Y.

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Definitions:

Other Income

Revenue generated from non-primary business activities, such as interest, dividends, or the sale of assets.

Multiple-Step Income Statement

A detailed financial statement that separates operating revenues and expenses from non-operating ones, providing a thorough insight into company performance.

Perpetual Inventory System

An inventory management method where updates are made continuously to record every sale and purchase, providing a real-time view of inventory levels.

Inventory

The total amount of goods and materials held by a company for the purpose of resale, production, or use in service delivery.