The minimum percentage of recent graduates who have salaries between $22,800 and $27,000 is 75%
What is chebyshev's theorem ?
The minimum percentage of observations that are within a given range of standard deviations from the mean is calculated using Chebyshev's Theorem. Numerous other probability distributions can be applied with this theorem. Chebyshev's Inequality is another name for Chebyshev's Theorem.
Given that
μ=24900,σ = 1050
From above we have
μ-2σ = 24900 -2. 1050 = 22800
μ+2σ = 24900 + 2. 1050 = 27000
That is k =2 and
1- 1/k^2 = 1 - 1/4 = 3/4 = 75%
So according to Chebyshev's Theorem, at least 75.0% of recent graduates who have salaries between $22,800 and $27,000.
To learn more about Chebyshev's Theorem click here
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