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Your econ professor is considering adding a side hustle of being a yoga instructor on top of teaching. The mean earnings for a teaching econ professor is $75,000, and the mean earnings of a part time yoga instructor is $15,000. The correlation between econ and yoga earnings is 0.85. Let W represent the total wealth earned from being an econ professor and yoga instructor. 18. What is the expected total wealth of an econ professor who also teaches yoga? 19. What is the covariance between an econ professor earning and a yoga teacher eaming? 20. What is the standard deviation of W?

Your econ professor is considering adding a side hustle of being a yoga instructor on top of teaching. The mean earnings for a teaching econ professor is $75,000, and the mean earnings of a part time yoga instructor is $15,000. The correlation between econ and yoga earnings is 0.85. Let W represent the total wealth earned from being an econ professor and yoga instructor. 18. What is the expected total wealth of an econ professor who also teaches yoga? 19. What is the covariance between an econ professor earning and a yoga teacher eaming? 20. What is the standard deviation of W?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 11PPS
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Your econ professor is considering adding a side hustle of being a yoga instructor on top of teaching. The mean earnings for a teaching econ professor is $75,000, and the mean earnings of a part time yoga instructor is $15,000. The correlation between econ and yoga earnings is 0.85. Let W represent the total wealth earned from being an econ professor and yoga instructor. 18. What is the expected total wealth of an econ professor who also teaches yoga? 19. What is the covariance between an econ professor earning and a yoga teacher earning? 20. What is the standard deviation of W?
Transcribed Image Text:Your econ professor is considering adding a side hustle of being a yoga instructor on top of teaching. The mean earnings for a teaching econ professor is $75,000, and the mean earnings of a part time yoga instructor is $15,000. The correlation between econ and yoga earnings is 0.85. Let W represent the total wealth earned from being an econ professor and yoga instructor. 18. What is the expected total wealth of an econ professor who also teaches yoga? 19. What is the covariance between an econ professor earning and a yoga teacher earning? 20. What is the standard deviation of W?
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