What is mean and covariance

Reference no: EM131444036

Question: 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?

d. Convert the answers to (a) through (c) from U.S. dollars ($) to euros (€).

Reference no: EM131444036

Questions Cloud

Understanding the federal laws and executive orders : An important part of HRM is understanding the Federal laws and Executive Orders that have brought equality, safety and health to the workplace. Select one of the following employment laws listed below.

How john chamber shows emotional intelligence : Describe how John Chambers portrays the personal traits of a leader as identified. Is John Chamber practicing Transactional Leadership or Transformational Leadership? Support with examples from the video. Describe how John Chamber shows Emotional In..

Have someone read your research problem statement : Because this module puts all of what you did in Written Assignments 1, 2, and 3 together into a complete research proposal, pose any questions that you have about making the research proposal complete:

Conduct an organisational training needs analysis : Using publicly available information and data, propose business goals for Comfort that will address the challenges the company and industry as a whole is facing. Conduct an organisational training needs analysis to determine the knowledge, skills ..

What is mean and covariance : 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.

Where would you start to determine what is wrong : You have just been hired as a Human Resource Manager in a small, but rapidly growing organization with 160 employees. During the interview and selection process, the CEO stated that the reason an HRM Manager was needed was because there was an in..

Describe the elements of a change management plan : Change requires planning, including input from HR. Retention goals and future plans impact the way in which change is managed. Planning enables the organization to focus on immediate and future goals.What are the three most important elements of a ..

What challenges would you face if your company were global : Begin with an introduction that defines the subject of your critique and your point of view. You will first need to identify and explain the author's ideas. Include specific passages that support your description of the author'spoint of view.

Question related to legislative provisions operating : TLAW 303 - TAXATION LAW - ASSIGNMENT QUESTION. Answer the following question with reference to the relevant legislative provisions operating in Australia concerning the application of relevant income tax rules and formulas

User Account

All Pages