1. Express each of the following sums in summation notation
1. Express each of the following sums in summation notation and then compute where possible. Let X take the values????1=?2,????2=?1,????3=0,????4=1,????5=2and Y take the values????1=?1,????2=?0.5,????3=0,????4=1,????5=1.5. a)????1+????2+????3+????4+????5 b)????3+????4+????5 c)(????1?????1)+(????2?????2)+(????3?????3)+(????4?????4)+(????5?????5) d)2(????1?????2)+2(????2?????3)+2(????3?????4) e)(????2/????1)+(????3/????2)+(????4/????3) f)(????12?2????3)+(????22?2????4)+(????32?2????5) 2. Show that?(??????????????????????=1)(??????????????)=?????????????????=1???????????????????????? 3. An economist was trying to address…