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Economics

1. The following table give joint probabilities relating cell phone usage to stopping properly at intersections.

a) Compute the probability of failing to stop at an intersection, given the driver was on the cell phone.

b) Compute the probability of failing to stop at an intersection, given the driver was not using a cell phone.

c) Compute the probability of stopping properly at an intersection, given the driver was on a cell phone.

d. Are cell phone usage and failing to stop at intersections independent of each other? Why or why not?

2. Suppose you are told that E(X) = 8 and var(X) = 4. What are the expected values and variances of the following expressions? HINT: Use the properties of expected value and variance discussed in Appendix B.

a) Y = 3x + 2

b) Y = X/4

c) Y = 3x² + 2

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9743770

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