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Statistics / Elementary Statistics: A Step By Step Approach 9 / Chapter 3 / Problem 18RE

Elementary Statistics: A Step By Step Approach | 9th Edition | ISBN: 9780073534985 | Authors: Allan Bluman

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QUESTION:

For a certain type of job, it costs a company an average of $231 to train an employee to perform the task. The standard deviation is $5. Find the minimum percentage of data values that will fall in the range of $219 to $243. Use Chebyshev’s theorem.

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QUESTION:

For a certain type of job, it costs a company an average of $231 to train an employee to perform the task. The standard deviation is $5. Find the minimum percentage of data values that will fall in the range of $219 to $243. Use Chebyshev’s theorem.

ANSWER:

Step 1 of 2

We have to find the minimum percentage of the values that will fall in the range of $219 to $243 by using Chebyshev's theorem

Chebyshev's theorem says that the proportion of values of the data set that will be within k Standard deviations of the mean will be at least \(1-1 / k^{2}\)

We have to subtract the given mean value from the larger value, then divide the difference by the given standard deviation then we will get the value of k

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