Explain the term Random Variables? Define discrete & continuous random variables?

1. A bank operates a drive-up and walk-up window. Let X = the proportion of the time the drive-up facility is in use and let Y = the proportion of the time the walk-up window is in use. Suppose the operations manager uses the following distribution as the joint pdf based on his historical data: f(x, y) = 5 - 1/2(x + y²) if 0 (x + y²) if 0 ≤ x ≤ 1 and 0 ≤ y ≤1 otherwise (a) Find the marginal pdf for X, fx(x). (b) Find the marginal pdf for Y, fy(y).

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Part 2 Let x be a random variable that represents the batting average of a professional baseball player. Let y be a random variable that represents the percentage of strikeouts of a professional baseball player. A random sample of n = 6 professional baseball players gave the following information. x 0.338 0.306 0.340 0.248 0.367 0.269 y 3.5 7.7 4.0 8.6 3.1 11.1  Σx = 1.868, Σy = 38, Σx2 = 0.592034, Σy2 = 294.32, Σxy = 11.1556, and r ≈ -0.901. Se ≈ 1.5890, a ≈ 26.420, and b ≈ -64.517. (a) Find the predicted percentage  of strikeouts for a player with an x = 0.328 batting average. (Use 2 decimal places.) %(b) Find a 90% confidence interval for y when x = 0.328. (Use 2 decimal places.) lower limit  % upper limit  %

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Find the expected value of X

Discrete random variables and expected values

Game of chance: A player rolls a fair six-sided die. If outcome of a roll is an odd number, the player  wins as many  dollars as there are dots on the top face  . Otherwise, the player looses 4 dollars. Let the random variable X be profit (amount won or lost) per game. Make a probability distribution table for the random variable: amount won or lost.  Find the Expected value of the experiment Use Law of Large numbers to interpret the meaning of the Expected value If a person plays 100 times, how much he expects to win/loose?