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- Topic: Chebyshev's Inequality
| Author | Topic: Chebyshev's Inequality |
|---|---|
| DineshD @2017-11-20 08:00:19 |
Firstly I am trying to understand the actual use of this formula. Could someone explain what we are trying to find out through this formula and its actual use in practise? What does the statement "A minimum of 75% of observations lie within 2 Std. dev of the mean." actually indicates? Does 2 Std. dev indicates the calculated standard dev. of the sample? |
| Alexxx2 @2017-11-26 09:06:40 |
I have the same question I think it's only used for non-normal distributions for which traditional Z/T stats can't be used |
