Chebyshev's Theorem | Formula, Usage & Examples

Chebyshev's Inequality: Formula & Applications | CFA Level 1

Chebyshev Inequality

Question: State and prove Chebyshev's inequality... | Filo

Chebyshev's Theorem / Inequality: Calculate it by Hand / Excel

We saw that if we want to have a probability of at least 95% that the poll results are within 1 percentage point of the truth, Chebyshev's inequality recommends a sample size of n=50,000 . This is very large compared to what is done in practice. Newspaper polls use smaller sample sizes for various reasons. For each of the following, decide whether it is a valid reason. In the real world, a) the accuracy requirements are looser.b) the Chebyshev bound is too conservative. c) the people sampled are