Statistics

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Markov's and Chebyshev's Inequalities Explained

Confidence Values If you’ve ever learned any basic statistics or probability then you’ve probably encountered the 68-95-99.7 rule at some point. This rule is simply the statement that, for a normally distributed variable, roughly 68% of values will fall within one standard deviation of the mean, 95% of values within two standard deviations, and 99.7% within three standard deviations. These confidence values are quite useful to memorize because values that are computed from data are often approximately normally distributed due to the central limit theorem.

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