MBA 522 Empirical_Rule_and_Chebyshev

MBA 522 Empirical_Rule_and_Chebyshev - Empirical Rule and...

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Empirical Rule and Chebyshev’s Theorem Chebyshev's theorem and the empirical rule both attempt to make generalizations about distributions of data. However, the empirical rule only applies to bell-shaped distributions. Chebyshev's can be applied to any distribution (regardless of shape). This makes Chebyshev's more versatile. But with the flexibility gained, there is a price tag. Chebyshev's is more conservative in its estimates because it accommodates all distributions. The Empirical Rule: The empirical rule is specific to bell-shaped distributions. You can see a picture of one on page 96 of your text. You will see more of the bell-shaped curve (also called the normal distribution) in chapter 6 and several other courses. But for now in this chapter you should learn the general rule that if data is bell-shaped, then the 68/95/99.7 percent rule applies. Because it assumes bell-shaped curve, it is more specific in determining the percent of data values that are around the mean.
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This note was uploaded on 11/13/2011 for the course MBA 522 taught by Professor Nabavi during the Spring '08 term at Bellevue.

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MBA 522 Empirical_Rule_and_Chebyshev - Empirical Rule and...

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