Apply Chebyshev’s Theorem and the Empirical Rule

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June 7th, 2024

Apply Chebyshev’s Theorem and the Empirical Rule to both the listing price and square footage data. More specifically, calculate the percentage of data that should theoretically fall within 1, 2, and 3 standard deviations of the mean based on Chebyshev’s Theorem and the Empirical Rule. Then compare the percentage of values in your dataset that actually fall within 1, 2, and 3 standard deviations of the mean. Does Chebyshev’s Theorem hold for your data? How closely do your data follow the Empirical Rule?

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