THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 226

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A random variable X is normally distributed with mean of 50 and variance of 50,and a random variable Y is normally distributed with mean of 100 and variance of 200.
-Given the random variables X and Y have a correlation coefficient equal to 0.50,find the mean and variance of the random variable W = 4X+3Y.

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Definitions:

Authorize

To give official permission or power to do something.

Bank Statement

A document provided by a bank that summarizes an account holder's financial transactions over a specified period.

Unauthorized Check

An unauthorized check is a check that has been written and signed without the permission or authority of the account holder, often considered a form of fraud.

Reimburse

The act of compensating someone for money spent or costs incurred on someone else's behalf.