Chebyshevs Rule and the Empirical Rule are useful as a check on the calculation of the standard
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Chebyshev’s Rule and the Empirical Rule are useful as a check on the calculation of the standard deviation. For example, suppose we calculated the standard deviation for the R&D percentages (Table 2.6) to be 3.92. Are there any “clues” in the data that enable us to judge whether this number is reasonable?
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Table 2.6 R&D Percentages for 50 Companies 13.5 7.2 9.7 11.3 8.0 9.5 7.1 7.5 17557 51661 5.6 7.4 8.2 9.0 7.2 10.1 10.5 6.5 9.9 5.9 8.0 7.8 8.4 8.2 6.6 8.5 7.9 8.1 13.2 11.1 11.7 6.5 6.9 9.2 8.8 7.1 6.9 7.5 6.9 5.2 7.7 6.5 10.5 9.6 10.6 9.4 6.8 13.5 7.7 8.2 6.0 9.5
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The range of the RD percentages in Table 26 is 135 52 83 From Chebyshevs Rule and the Empirical Rule ...View the full answer
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Related Book For
Statistics For Business And Economics
ISBN: 9781292227085
13th Global Edition
Authors: Terry Sincich James Mcclave, P. George Benson
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