Hey, I am having trouble with a problem. How do you find the E(Y) and Var(Y) for the equation Y=0.8X - 3 with the information of E(x) = 10 and Var(x) = 5. If anyone could give me any hints at how to do this would be greatly appreciated. Thanks.
Hey, I am having trouble with a problem. How do you find the E(Y) and Var(Y) for the equation Y=0.8X - 3 with the information of E(x) = 10 and Var(x) = 5. If anyone could give me any hints at how to do this would be greatly appreciated. Thanks.
You're expected to know that E(aX + b) = aE(X) + b and Var(aX + b) = a^2 Var(X).