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Find the covariance between male and female earnings

In a given population of two-earner male/female couples, male earnings have a mean of $40,000 per year and a standard deviation of $12,000. Female earnings have a mean of $45,000 per year and a standard deviation of $18,000. The correlation between male and female earnings for a couple is 0.80. Let C denote the combined earnings for a randomly selected couple. a. What is the mean of C? b. What is the covariance between male and female earnings? c. What is the standard deviation of C?

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Find the covariance between male and female earnings

Reference No:- TGS0698599

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : Write the advantages and disadvantages of sumpner-s test

Q : How the income statement showed an interest expense

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Solution Preview :

Prepared by a verified Expert

Basic Statistics: Find the covariance between male and female earnings

Reference No:- TGS0698599

Recent Questions Asked Basic Statistics

Q : Write the advantages and disadvantages of sumpner-s test

Q : How the income statement showed an interest expense

Q : Magnitude of the angular acceleration of the grindstone

Q : Explain why warner might want to allocate security

Q : Find the covariance between male and female earnings

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Q : Find the single digit value for each letter in the addition

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