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Let c denote the combined earnings for a randomly selected

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In a given population of two-earner male/female couples, male earnings have a mean of $40,000 per year and a standard deviation of $12,000. Female earnings have a mean of $45,000 per year and a standard deviation of $18,000. The correlation between male and female earnings for a couple is 0.80. Let C denote the combined earnings for a randomly selected couple. a. What is the mean of C? b. What is the covariance between male and female earnings? c. What is the standard deviation of C?

Reference no: EM13591100

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