Question

Suppose that salaries for recent graduates of one university have a mean of $24,800 with a standard deviation of $1100. Using Chebyshev's Theorem, what is the minimum percentage of recent graduates who have salaries between $21,500 and $28,100?

Answer 1

Let ,

Now , we want to find the minimum percentage of recent graduates who have salaries between $21,500 and $28,100 by using Chebyshev's Theorem.

I ) To subtract the mean from the larger value.

i.e. 28100-24800= 3300

II ) Find k ,

III ) Using Chebyshev's Theorem ,

Therefore , the minimum percentage of recent graduates who have salaries between $21,500 and $28,100 is 89%.