If x and y are two variables that are not independent, then which of the following represents the variance Var(ax + by) of their linear combination, where ‘a’ and ‘b’ are constants?
1
a2 Var(x) + b2 Var(y)
2
a2 Var(x) - b2 Var(y)
3
a2 Var(x) + b2 Var(y) + 2ab Cov(x, y)
4
a2 Var(x) + b2 Var(y) - 2ab Cov(x, y)