ECON 3170 TERM TEST 3 1) Suppose X and Y are two random variables with E(X) = 0.50, E(Y) = 1.55, E(XY) = 0.90, Var(X) = 0.20, and A) 0.125 Var()) =

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ECON 3170 TERM TEST 31) Suppose X and Y are two random variables with E(X) = 0.50, E(Y) = 1.55, E(XY) = 0.90, Var(X) = 0.20, andA) 0.125Var()) = 0.3. What is the value of Corr(X, ))?B ) 0.5103C) -0.1005D) -0.2449 E) None of the above2) A company hires management trainees for entry level sales positions. Past experience indicates that 90% will stillbe employed at the end of nine months. Assume the company recently hired 8 trainees. What is the probability that $of the trainees will still be employed at the end of nine months?A) 0.0331B) 0.0012C) 0.0446D) 0.0146 E) None of the above3) A company hires management trainees for entry level sales positions. Past experience indicates that only 90%will still be employed at the end of nine months. Assume the company recently hired 8 trainees. The expected valueof a random variable, denoted u, is also called its:A) mode.B) median.C) variance.D) mean E) None of the above4) Let a = -Mx/ox and b = 1/ox in the linear function Z = a + bX. Which of the following statements is true?A) oz = a + box B) oz = oxC) MZ = MXD) MZ = 0 E) None of the above5) If X and Y are random variables, the sum of all the conditional probabilities of X given a specific value of Y willalways be:A) the average of the possible values of X. B) 1.C) the average of the possible values of Y. D) O.E) None of the above6) If X and Y are any random variables with Cov(X, Y) = - 0.40, 83=0.25, and 82=0.36, then the coefficient ofcorrelation p isA) 0.595B)- 1.417C) - 1.3333D) - 1.190 E) None of the above7) In a recent survey, 40% of human resource directors thought that it was very important for business students totake a course in business ethics. For a sample of 5 human resource directors, what is the probability that at least oneof them does not think it very important for business students to take a business ethics course?A) 0.0778B) 0.9222C) 0.9862D) 0.9244 E) None of the above