Stats Question: Multiplying Two Random Variables... and Variance

Discussion in 'Science and Technology' started by FalTorPan, Feb 7, 2009.

  1. FalTorPan

    FalTorPan Vice Admiral Admiral

    Joined:
    Jan 25, 2000
    Location:
    Out there... thataway.
    I'm rusty with statistics. Let's say that I have two random variables X and Y. I know that the mean of X is meanX, the variance of X is varX, the mean of Y is meanY and the variance of Y is varY.

    I want to know the mean and variance of the product of X and Y. If memory serves, meanXY is just

    meanXY = meanX * meanY

    What is varXY? I don't remember, and a quick Google search hasn't revealed anything yet. I'll keep searching, but does anyone know this from off the top of his or her head?

    Thanks in advance.

    UPDATE: I found the answer.