Question
The average sale price of houses in Edmonton in February 2022 was $493,543. A total of 1,394 houses were sold. a) Use Markov's inequality to
The average sale price of houses in Edmonton in February 2022 was $493,543. A total of 1,394 houses were sold.
a) Use Markov's inequality to determine an upper bound on the number of houses sold for at least $1 million.
b) Imagine now that you know 17 houses actually sold for at least $1 million. Use Chebyshev's inequality to get a lower bound on the standard deviation of the housing prices.
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Differential Equations
Authors: Paul Blanchard, Paul S Boyer, Robert L Devaney, Glen R Hall
4th Edition
1133388086, 9781133388081
