Tchebycheffs theorem, Statistics, Basic Statistics

Assignment Help:
Tchebycheffs theorem

As we all know standard deviation is a most widely used measure of variation. It has certain mathematical properties that facilitate development of statistical theory. It carries the same units as the variable, whereas the variable is expressed in squared units.

Deeper insight into the role and meaning of standard deviation can be gained through examination and use of a theorem developed by the Russian mathematician tchebycheff. According to this theorem, it is given a group of N within K standard deviations of the mean. The symbol K represents number of standard deviations. The theorem can be quantified for any desired value of K each different value of K produces a new interval with different minimum proportions of observations encompassed.

To illustrate, let K = 1, 2 and 3 when K = 1, this interval created is the mean ± 1 standard deviation, i.e. µ ± s. For this value of K the minimum proportion of observations contained in the interval is

1 + (1/K)^2 + 1 -1/1 = 1-1 = 0

When K = 2, the interval is µ ± 2s and the minimum proportion observation in the interval is:

1 – (1/)2 = 1 –1/4= 3/4.

When K = 3, interval is µ ± 3s and the minimum proportion of items in the interval is:

1 – (1/3)2 = 1 - 1/9 = 8/9

Related Discussions:- Tchebycheffs theorem, Statistics

Esk jewellery, You are working for the management of ESK Jewellery as a mar...

You are working for the management of ESK Jewellery as a marketing consultant. The main business of ESK Jewellery is the retailing of diamond jewellery. They opened their first sho

Working capital, prepare an estimate of working capital requirements from t...

prepare an estimate of working capital requirements from the following information 1. project annual sales 1,00000/- 2. selling price Rs. 8/unit 3.percentage of net profit on sale

How would you go about choosing a random sample, Q. Suppose a study is bein...

Q. Suppose a study is being done and the population is the American public. How would you go about choosing a random sample population to phone for a survey? Solution: One w

Binomial probability distribution, if the probability of getting caught cop...

if the probability of getting caught copying someone else s exam is 0.2 find the probability of not getting caught in 3 attempts assume independence

Accounting for partnerships and limited liability companies, Tim Snyder and...

Tim Snyder and Jay Wise have decided to form a partnership. They have agreed that Snyder is to invest 30000 and Wise is to invest 40000. Snyder is to devote full time to the busi

Predetermined rates, #questKody Corporation uses a job-order costing system...

#questKody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates

Accounting for inflation, Accounting for inflation Inflation sales is a ter...

Accounting for inflation Inflation sales is a term reporting a range of sales systems designed to correct problems that comes from traditional cost sales in the use of inflation. I

Stistics, what are the function of statistics in business onganizations?

what are the function of statistics in business onganizations?

Card custodian, Card custodian An person who is assigned responsibility of...

Card custodian An person who is assigned responsibility of purchase card security & issuance of cards to authorized users,

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd