A bank pays 7% interest on 3-year certificates of deposit. What is the value of a $500 certificate after one year? Give your ans
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Answer:
The minimum percentage of the commuters in the city has a commute time within 2 standard deviations of the mean is 75%.
Step-by-step explanation:
We have no information about the shape of the distribution, so we use Chebyshev's Theorem to solve this question.
Chebyshev Theorem
At least 75% of the measures are within 2 standard deviations of the mean.
At least 89% of the measures are within 3 standard deviations of the mean.
An in general terms, the percentage of measures within k standard deviations of the mean is given by .
Applying the Theorem
The minimum percentage of the commuters in the city has a commute time within 2 standard deviations of the mean is 75%.
