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Given Independent Random Variables with Means and Standard Deviations as Shown,find

question 195

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Given independent random variables with means and standard deviations as shown,find the mean and standard deviation of the variable 0.3Y.  Mean  SD X707Y608\begin{array} { c | c c } & \text { Mean } & \text { SD } \\\hline \mathrm { X } & 70 & 7 \\\mathrm { Y } & 60 & 8\end{array}


Definitions:

Utility Function

A mathematical model in economics that represents how different goods or outcomes give varying levels of satisfaction or happiness to an individual.

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