Question: Use the information given in question 4 to solve question 5. 4) Number of people (X ) who make a 1 point reservation in a

Use the information given in question 4 to solve question 5. 4) Number of people (X ) who make a 1 point reservation in a restaurant on a particular day is a random variable with mean equal to 30 and variance equal to 4. Using Markov's inequality, find an upper bound on the probability that on a particular day, the number of reservations will exceed 55. 30 O P(X > 55) 55) 55) > 56 30 O P(X > 55) 2 56 5) Find a lower bound on the probability that on a particular day, number of reservations made will lie in between 22 and 38 using Chebyshev's inequality. Enter your answer correct to two decimals accuracy. + - X 1 point
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
