d. Use Van Beeck's inequality to provide an upper bound to the approximation error in the probability
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d. Use Van Beeck's inequality to provide an upper bound to the approximation error in the probability value that you assigned in part (c). Are you reasonably confident that you provided Enviro-Safe with an accurate "guess" of the expected daily tonnage?
(Enviro-Safe management said that it would be satisfied if it could get an estimate that was "within
±1 ton of the actual expected daily tonnage."1 Explain.
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Related Book For
Mathematical Statistics For Economics And Business
ISBN: 9780387945873
1st Edition
Authors: Ron C. Mittelhammer
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