Refer to Chebyshev's inequality given in Exercise 44. Calculate P( |X - | > k) for k

Question:

Refer to Chebyshev's inequality given in Exercise 44. Calculate P( |X - µ| > kσ) for k = 2 and k = 3 when X~ Bin (20, .5), and compare to the corresponding upper bound. Repeat for X~Bin (20, .75).
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...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: