Refer to Chebyshev's inequality given in Exercise 44. Calculate P( |X - | > k) for k
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In Exercise 44
A result called Chebyshev's inequality states that for any probability distribution of an rv X and any number k that is at least 1, P(|X - µ| > kσ) < 1/k2. In words, the probability that the value of X lies at least k standard deviations from its mean is at most 1/k2.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Probability And Statistics For Engineering And The Sciences
ISBN: 9781305251809
9th Edition
Authors: Jay L. Devore
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