Every month, the government of Nederland spends X million dollars purchasing gun

Question

Every month, the government of Nederland spends X million dollars purchasing guns, Y million dollars purchasing butter, and saves Z million dollars. Assume X, Y, and Z follow a multivariate normal distribution with parameters: mu_x = 400, mu y = 285, mu_z = 170, = 40, sigma y = 36, = 39, and correlations of Pxy = -0.17, p_xz = 0.41, and P_yz = 0.13. Suppose the government of Nederland spent 450 million dollars on guns and 200 million on butter during a particular month. Find the probability that more than 150 million was saved during the same month Suppose the government of Nederland spent 350 million dollars on guns and 250 million on butter during a particular month. Find the probability that more than 150 million was saved during the same month.

Explanation / Answer

0.3232 will be the probability that 150 million could be save during the same month.

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