According to the Chebyshev Rule, at Least What Percentage of the Observations

question 24

Multiple Choice

According to the Chebyshev rule, at least what percentage of the observations in any data set are contained within a distance of 2 standard deviations around the mean?

• A) 67%
• B) 75%
• C) 88.89%
• D) 95%

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Definitions:

Rescission

The act of canceling or annulling a contract, returning the parties involved to their positions prior to the agreement.

Nominal Damages

Monetary damages awarded to a plaintiff in a very small amount, typically $1 to $5, to signify that the plaintiff has been wronged by the defendant even though the plaintiff suffered no compensable harm.

Actual Damages

Financial compensation awarded to a plaintiff to recover losses directly resulting from a defendant's actions.

Substantial Performance

A level of performance of a contract deemed acceptable even if it does not comply with all terms, due to substantial compliance with the contract.