GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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For a skewed distribution, what is the minimum percentage of the observations that will lie within 2.5 standard deviations of the mean based on Chebyshev’s rule?
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84%
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75%
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78%
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95%
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Explanation:
Detailed explanation-1: -Consequently, Chebyshev’s Theorem tells you that at least 75% of the values fall between 100 ± 20, equating to a range of 80 – 120. Conversely, no more than 25% fall outside that range.
Detailed explanation-2: -For a skewed distribution that has excess kurtosis, the minimum percentage of the distribution within three standard deviations of the mean is closest to: A 89%.
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