PRMIA Exam 8002 Topic 3 Question 75 Discussion

Actual exam question for PRMIA's 8002 exam

Question #: 75
Topic #: 3

[All 8002 Questions]

Suppose a discrete random variable can take on the values -1, 0 and 1 each with a probability of 1/3. Then the mean and variance of the variable is

Amean is 0, variance is 2/3

Bmean is 0, variance is 1/3

Cmean is 0, variance is 1/2

Dmean is 1/3, variance is 1/3

Show Suggested Answer

Suggested Answer: D

by Edna at Mar 15, 2024, 10:59 PM

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Paris

10 months ago

I believe the correct values for a and b are b=0.5 and a=2.5, which corresponds to option A.

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Mirta

10 months ago

So, if cov(X,Y)=10, var(X)=5, and the means of X and Y are 1 and 2, respectively, we can plug these values into the formula.

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Lindsey

10 months ago

Yes, we can use the formula for linear regression to find the values of a and b.

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Sherly

10 months ago

I think the values for the regression parameters a and b can be calculated based on the given information.

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Ciara

11 months ago

I agree with that, as b=0.5 and a=2.5 satisfy the given conditions.

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Kenny

11 months ago

I believe the regression parameters are b=0.5 and a=2.5.

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Honey

11 months ago

So, based on the given information, what do you think the values for a and b are?

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Ciara

12 months ago

Yes, we have the covariance, variance, and means of X and Y to work with.

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Kenny

12 months ago

I think we need to calculate the regression parameters for this problem.

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