Chebyshev's Guarantee
For any distribution with finite mean and variance, what is the minimum fraction of observations guaranteed to lie within 2 standard deviations of the mean?
Related problems & prerequisites
Worth solving first
- Variance of Two Dice 3.0/10
Source: Chebyshev's inequality, after Pafnuty Chebyshev; textbook material in probability. Statement written for AxiomIQ.