Question

In Exercise 5.1 , we determined that the joint distribution of $Y_{1}$, the number of contracts awarded to firm $\mathrm{A},$ and $Y_{2},$ the number of contracts awarded to firm $\mathrm{B}$, is given by the entries in the following table. The marginal probability function of $Y_{1}$ was derived in Exercise 5.19 to be binomial with $n=2$ and $p=1 / 3 .$ Find a. $E\left(Y_{1}\right)$ b. $V\left(Y_{1}\right)$ c. $E\left(Y_{1}-Y_{2}\right)$

          In Exercise 5.1 , we determined that the joint distribution of $Y_{1}$, the number of contracts awarded to firm $\mathrm{A},$ and $Y_{2},$ the number of contracts awarded to firm $\mathrm{B}$, is given by the entries in the following table. The marginal probability function of $Y_{1}$ was derived in Exercise 5.19 to be binomial with $n=2$ and $p=1 / 3 .$ Find a. $E\left(Y_{1}\right)$
b. $V\left(Y_{1}\right)$
c. $E\left(Y_{1}-Y_{2}\right)$

Added by John G.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert Rashmi Sinha

01/27/2023

Step 1

$E(Y_{1})$ is the expected value of $Y_{1}$, which can be calculated using the formula for the expected value of a binomial distribution, $E(Y_{1}) = np = 2*(1/3) = 2/3$. b. $V(Y_{1})$ is the variance of $Y_{1}$, which can be calculated using the formula for the Show more…

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In Exercise 5.1 , we determined that the joint distribution of $Y_{1}$, the number of contracts awarded to firm $\mathrm{A},$ and $Y_{2},$ the number of contracts awarded to firm $\mathrm{B}$, is given by the entries in the following table. The marginal probability function of $Y_{1}$ was derived in Exercise 5.19 to be binomial with $n=2$ and $p=1 / 3 .$ Find a. $E\left(Y_{1}\right)$ b. $V\left(Y_{1}\right)$ c. $E\left(Y_{1}-Y_{2}\right)$