Probability Distribution

Question 1

If the probability distribution pictured represented the number of daily accidents and we assume that each accident causes a $5000 loss, what is the variance of the daily loss and how do we get to this result?

Question 2

If the probability distribution pictured represented the number of daily accidents and we assume that each accident causes a $5000 loss, what is the expectation of daily loss and how do we get to this result?

Question 3

Based on the probability distribution presented, what is the variance of y and how do we get to this result?

Question 4

Based on the joint probability distribution presented, what is E(y|x=0) - the conditional expectation of y, given x = 0 - and how do we get to this result?

Question 5

Based on the joint probability distribution presented, what is E(x|y=0) - the conditional expectation of x, given y = 0 - and how do we get to this result?

Question 6

Based on the joint probability distribution presented, what is Cov(x,y) - the covariance of x and y - and how do we get to this result?

Question 7

Based on the joint probability distribution presented, what is E(xy) - the expected value of xy - and how do we get to this result?

Question 8

Based on the joint probability distribution presented, what is E(y) - the expected value of y - and how do we get to this result?

Question 9

Based on the joint probability distribution presented, what is E(x) - the expected value of x - and how do we get to this result?

Question 10

Based on the probability distribution presented, what is the expected value of y and how do we get to this result?