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It would be interesting to know how many standard deviations is 775% extra demand from the norm. More than six standard deviations is rarer than a 1 in 50679734
by raghavtoshniwal 7y ago
It would be interesting to know how many standard deviations is 775% extra demand from the norm. More than six standard deviations is rarer than a 1 in 506797346 event.
- Simon_says 7y agoSamples getting 6 standard deviations away from the mean can happen 1/6² ≈ 2.7% of the time. You might be assuming properties of the distribution that aren't true. https://en.wikipedia.org/wiki/Chebyshev%27s_inequality https://en.wikipedia.org/wiki/Chebyshev%27s_inequality
- yread 7y agoIsn't that an upper bound? It says that it happens at most 2.7% of the time
- Simon_says 7y agoYea, it's an upper bound. The actual percentage depends on the distribution and can be anywhere from 0-2.7%. The Wikipedia link has more details.