or Tchebysheff's Theorem
Let be a random variable with finite mean and variance , then
Probability that the sample points sit within standard deviations of the mean get squeezed to 1 as increases
At , probability for any random variable under any distribution is at least 75% (for the normal, we have 95%)
Applies to a new random variable , as long as and exists
If the exact value is not needed when finding , we can use the theorem to quickly calculate a bound instead of doing a laborious integration
Just plugging in
Law of large numbers
For normal random variable and Sample Proportion
- let
for any arbitrary positive integer
With the equivalent symmetrical inequality and
- sample mean converges to population mean with large sample sizes