Markov's and Chebyshev's Inequalities


Markov's Inequality:

If X is a random variable that only takes non-negative values, then the probability that X takes a value greater than or equal to t is less than or equal to its expected value divided by t.

Chebyshev's Inequality:

The probability that X deviates from its mean μ by at least k standard deviations is less than or equal to 1/k^2

Adjust parameters to observe...