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Question

Statistics for Economics Question on Probability

Consider two independent random variables: XN(5,4)X ∼ N(5, 4) and Y N(3,2)Y~N(3, 2). If (2X+3Y) N(μ,σ2)(2X + 3Y)~N(\mu, \sigma ^2), then the values of mean (μ\mu) and variance (σ2\sigma ^2) are

A

μ\mu = 19 and σ2\sigma ^2 = 34

B

μ\mu = 8 and σ2\sigma ^2 = 14

C

μ\mu = 19 and σ2\sigma ^2 = 14

D

μ\mu = 8 and σ2\sigma ^2 = 34

Answer

μ\mu = 19 and σ2\sigma ^2 = 34

Explanation

Solution

The correct answer is (A) :μ\mu = 19 and σ2\sigma ^2 = 34