Bienayme-chebyshev rule, Applied Statistics

Assignment Help:

This probability rule determined by the research of the two mathematicians Bienayme' and Chebyshev, explains the variability of data about its mean when the distribution of the data set is not known. The rule states that the percentage of data observations lying within   1079_Bienayme-Chebyshev Rule1.png   standard deviations of the mean is at least

1387_Bienayme-Chebyshev Rule.png

 x 100

The above rule holds good regardless of the shape of the data set. The formula applies to differences greater than one standard deviation about the mean, and k being greater than 1.

If a particular random phenomenon follows the pattern of bell-shaped model which is usually a normal distribution, we precisely know how any element is likely to be closed to or far from its mean. But, if the population model is not known, the Bienayme' - Chebyshev rule applies. This rule tells how likely any particular value can lie within a specified distance from the mean. If a data set takes any shape, at least [1 - (1/2)2] 100 = 75% of the observations are contained within two standard deviations of the mean. In turn, at least 89% of all observations are contained within three standard deviations of the mean.

This rule helps managers to understand the information content of data when no known distribution can be assumed.

Rectangular distribution: It is used where every observation has the same frequency/probability. The inner rectangle contains at least 75% of the observations.

1048_rectangular distribution.png

Non-symmetrical distribution: When the two halves of a distribution about the mean are not mirror images of each other then it is termed as a non-symmetrical distribution. The shaded area below contains at least 75% of the observations.

1782_rectangular distribution1.png


Related Discussions:- Bienayme-chebyshev rule

Methods of forecasting, Methods of Forecasting  Various techniques whic...

Methods of Forecasting  Various techniques which are generally used in business forecasting are as under: 1.      Forecasting  through the opinion of heads  of department

Calculate unbiased estimate of the variance, This question has two parts wi...

This question has two parts with multiple items to answer. You are a psychologist who has collected the subjective well-being scores of a number of elderly people aged 90 or abo

Rank correlation, Rank Correlation Sometimes the characteristics whose ...

Rank Correlation Sometimes the characteristics whose possible correlation is being investigated, cannot be measured but individuals can only be ranked on the basis of the chara

Descriptive Statistics, To determine the proportion of people in your town ...

To determine the proportion of people in your town who are smokers, it has been decided to poll people at one of the following local spots: (a) the pool hall; (b) the bowling alley

Correlation coefficient test, 1. If you are calculating a correlation coeff...

1. If you are calculating a correlation coefficient testing the relationship between height and weight, state the null and alternative hypotheses. 2. What kind of relationship d

Philosophy, what is the aim of statistics?

what is the aim of statistics?

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