Excerpt from the cumulative z-table: z 0.00 2.3 0.9893 2.4 0.9918 2.5 0.9938 An analyst collects figures for the attendance at each of his college’s hockey games over the last five years. The minimum percentage of the distribution that lies within plus or minus 2.4 standard deviations from the mean is closest to: A. 58.33%. B. 82.60%. C. 98.36%. D. 99.18%. any idea??? (It’s not C !!)
B. Don’t take it for granted it’s normal distribution.
I would guess D, because 99% lie within 2.58 standard deviations…
I’m for B which is the value based on chebyshev’s inequality.
How do you know when to use the Chebyshev’s inequality??? I know it can be used for any distribution…
Based on the example in Schweser and the example above, they both use the terminology, “…minimum percentage…” Is that when we would use Chebyshev’s inequality?
ok so here we have to suppose it’s any set of distribution as hopetobeat said and use Chebyshev’s inequality Whaaaaaaaaat a trap !!! (I would never be able to figure it out myself :