March 30, Monday
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The probability of an individual getting affected by C* virus is 0.001. If the population of the world is 8 billion, what is the upper bound using Markov inequality on the probability that more than 100 million people are affected? (any resemblance to reality is purely coincidental) *
1 point
The average annual income of an Indian household is 2 Lakhs and the standard deviation is 1 Lakh. Given that the number of households in India is 240.1 million, using Chebyshev inequality, obtain the upper bound on the number of households with annual income exceeding 1 crore. *
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