Solve Covariance Question: X,Y Means, Variances, Correlation

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SUMMARY

The discussion focuses on calculating the covariance, means, variances, and correlation coefficient for the random variables X and Y with a joint probability mass function defined as f(x,y) = (x+y)/32 for x=1,2 and y=1,2,3,4. The means were successfully calculated as μx = 25/16 and μy = 45/16, while the variances were found to be σ²x = 63/256 and σ²y = 295/256. The user encountered difficulties in calculating the covariance, specifically due to the differing number of outcomes for X and Y.

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  • Understanding of joint probability mass functions (p.m.f.)
  • Knowledge of statistical measures: mean, variance, and covariance
  • Familiarity with the correlation coefficient formula
  • Basic skills in probability calculations involving discrete random variables
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  • Learn how to calculate covariance for discrete random variables
  • Study the properties and applications of the correlation coefficient
  • Explore joint probability distributions and their implications in statistics
  • Review examples of calculating means and variances for joint distributions
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Homework Statement


Let the random variables X and Y have the joint p.m.f.:

f(x,y) = (x+y)/32 x=1,2, y=1,2,3,4.

find the means \mux and \muy, the variances \sigma2x and \sigma2y, and the correlation coefficient \rho.

Homework Equations


\rho=(COV(X,Y))/\sigmax\sigmay


The Attempt at a Solution


I was able to find both \mu's:
\mux= (25/16)
\muy= (45/16)

and both variances:
\sigmax=(63/256)
\sigmay=(295/256)

But I can't seem to find how to get the covariance...I tried just using the 1 and 2 values for x and y, but it hasn't worked. I think I'm getting confused because there are more y values than x values. Any help would be much appreciated!
 
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do you knw the formula for covariance?

you will need to calculate 2x4 terms, one for each x & y outcome
 

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