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Covariance and Correlation

Absolutely lost on how to determine what is being asked in below problem.

Consider the following joint probability distribution for uncertain quantities X and Y:

P(X=-2 and Y = 2) = 0.2
P(X=-1 and Y = 1 = 0.2
P(X= 0 and Y = 0 = 0.2
P(X= 1 and Y = 1 = 0.2
P(X= 2 and Y = 2) = 0.2

1. Need to calculate the covariance and correlation between X and Y

2. Calculate P(Y=2), P(Y=2| X= -2), P(Y=2|X=2), P(Y=2j|X=0)

3. Calculate P(X=-2), P(X=-2|Y=2), P(X=-2|Y=0)

Solution Summary

The solution gives step by step procedure to calculate covariance and correlation of bivariate random variable.

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