If X is a random variable with mean 33 and variance 16, use Chebyshevs inequality to find (a) A lower bound for P(23 < X < 43). (b) An upper bound for P(|X 33| 14).

---- → SECTION 4.1 ← ---- Introduction A ‘Statistical Experiment’ is any process or study which results in the collection of data, the outcome of which is unknown. Any characteristic that can be measured or categorized is called a ‘Variable’. If a variable can assume a number of different values such that any particular outcome is determined by chance, we call it as a ‘Random Variable’ (R.V.). o Random variables can be either ‘discrete’ or ‘continuous’ and are commonly represented by uppercase letters such as X, Y, and Z. Discrete & Continuous R.V. Discrete Random Variable can assume only a finite or countable number of outcomes. o Example: Gender of a person, number of phone calls