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4.67 A random variable \(X\) has a mean \(p=10\) and variance \(\sigma^{2}=4\). Using Chebyshev's theorem, find (a) \(P(X-10 \mid \geq 3)\) (b) \(\mathrm{P}(|\mathrm{X}-10|<3)\) (c) \(P(b

Short Answer

Expert verified
The solutions for the problems are: (a) \(P(|X-10| \geq 3) = 0.44\), (b) \(P(|X-10|<3) = 0.56\), (c) For P(b

Step by step solution

01

Find P(|X-10| ≥ 3)

For absolute deviations from the mean larger than or equal to 3, we use Chebyshev's inequality in the following way: \(P(|X-10| \geq 3) = \frac{Variance}{(Deviation)^2} \leq \frac{4}{9} = 0.44\).
02

Find P(|X-10|

To find the probability of deviations less than 3, we subtract the result from step 1 from 1. This is because all probabilities sum to 1. So \(P(|X-10|<3) = 1 - P(|X-10| \geq 3) = 1 - 0.44 = 0.56\).
03

Find P(b

The value of b has not been given. So we calculate as a general solution. Lower limit b and upper limit 15 are on the left and right side of the mean respectively. If the distance of b from mean is 'm' units, 15 is 'm + 5' units away from mean. According to Chebyshev's inequality, we take m = k σ, k > 1 and k +1.25 > 1 and 85/64 σ^2 > 4 ⇒ 85/64 > 4/σ^2 ⇒ 21.25/σ ≥ 4 ⇒ σ ≤ 5.3125. Since σ is 2, m can be up to maximum of 5.3125. That means, b = 10 - 5.3125 = 4.6875.
04

Find constant c

For this step, we are looking for the absolute deviation for which \(P(|X-10| \geq c) \leq 0.04\). We have: \(\frac{Variance}{(Deviation)^2} \leq 0.04\). This means \((Deviation)^2 \geq \frac{Variance}{0.04} = 100\). So the constant c is \(\sqrt{100} = 10\).

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Random Variable
A random variable is a numerical description of the outcome of a statistical experiment. It assigns a real number to each potential outcome of an experiment, such as the roll of a die or the height of individuals in a group. Random variables can be discrete, taking on a countable number of values, or continuous, with a range of possible values.

For instance, in our exercise, the random variable X represents some unknown quantity that we're trying to analyze. Understanding random variables is crucial because they form the foundation of probability theory and are essential in calculating the likelihood of different outcomes and understanding the behavior of systems.
Mean and Variance
In statistics, the mean and variance are fundamental measures that describe the distribution of a random variable. The mean, often denoted as \(p\) or \(\mu\), is a measure of the central tendency and represents the average value of the set of numbers. The variance, represented as \(\sigma^2\), measures how far a set of random numbers are spread out from their average value.

The mean is calculated as the sum of all observed values divided by the number of observations. Variance is the average squared deviation from the mean. The standard deviation, which is the square root of the variance, shows the average distance between each data point and the mean. These measures are crucial in assessing the reliability and variability of data and for calculating probabilities using Chebyshev's theorem, as in the given exercise.
Probability
Probability is a way of quantifying the likelihood that a particular event will occur, represented as a number between 0 and 1. An event with a probability of 0 is an impossibility, while an event with a probability of 1 is a certainty. In the middle, a probability of 0.5 indicates that an event has an equal chance of occurring or not occurring.

In the context of statistical experiments involving random variables, probabilities help us predict the frequency with which certain events will happen. When dealing with real-world scenarios, understanding probability is essential in risk assessment, decision making, and predicting outcomes.
Absolute Deviation
Absolute deviation represents the distance of a number from a fixed value, typically the mean of the data set. It is expressed as a positive number, with larger values indicating a greater spread of the data points from the mean. In mathematical terms, if X is a random variable and p is its mean, the absolute deviation of X from the mean is given by \(\left|X - p\right|\).

In probability and statistics, the concept of absolute deviation plays a role in various inequality theorems, including Chebyshev's theorem, which provides bounds on the probability that the absolute deviation of a random variable from its mean is greater than a certain value. In the exercise provided, the theorem is used to calculate different probabilities involving the absolute deviation of the random variable X from its mean.

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Most popular questions from this chapter

Seventy new jobs are opening up at an automobile manufacturing plant, but 1000 applicants show up for the 70 positions. To select the best 70 from among the applicants, the company gives a test that covers mechanical skill, manual dexterity, and mathematical ability. The mean grade on this test turns out to be \(60,\) and the scores have a standard deviation 6 . Can a person who has an 84 score count on getting one of the jobs? [Hint Use Chebyshev's theorem.] Assume that the distribution is symmetric about the mean.

A private pilot wishes to insure his airplane for \(\$ 200.000 .\) The insurance company estimates that a total loss may occur with probability \(0.002,\) a \(50 \%\) loss with probability \(0.01,\) and a \(25 \%\) loss with probability 0.1. Ignoring all other partial losses, what premium should the insurance company charge each year to realize an average profit of \(\$ 500 ?\)

Suppose that the probabilities are 0.4. 0.3,0.2 , and \(0.1,\) respectively, that 0,1,2 . or 3 power failures will strike a certain subdivision in any given year. Find the mean and variance of the random variable \(X\) representing the number of power failures striking this subdivision.

By investing in a particular stock, a person can make a profit in one year of \(\$ 4000\) with probability 0.3 or take a loss of \(\$ 1000\) with probability 0.7 . What is this person's expected gain?

Assume the length \(X\) in minutes of a particular type of telephone conversation is a random variable with probability density function $$f(x)=\left\\{\begin{array}{l}\frac{1}{5} e^{-x / 5} \\\0\end{array}\right.,$$ $$x>0$$ (a) Determine the mean length \(E(X)\) of this type of telephone conversation. (b) Find the variance and standard deviation of \(X\). (c) Find \(E\left[(X+5)^{2}\right]\).

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