Distribution

Question 1

According to Chebyshev Inequality

Answer 1

36% of observations lie within ±1.25 standard deviations of the mean.

56% of observations lie within ±1.50 standard deviations of the mean.

75% of observations lie within ±2 standard deviations of the mean.

89% of observations lie within ±3 standard deviations of the mean.

94% of observations lie within ±4 standard deviations of the mean.

Question 2

Define a confidence interval range and common intervals to know

Answer 2

A confidence interval is a range within which we have a given level of confidence of finding a point estimate (e.g., the 90% confidence interval for X
−1.65 to + 1.65s ).

Confidence intervals for any normally distributed random variable are:

90%: µ ± 1.65 standard deviations.
95%: µ ± 1.96 standard deviations.
99%: µ ± 2.58 standard deviations.

Question 3

Data Mining

Answer 3

Data mining is the process where the same data is used with different methods until the desired results are obtained.