Knowing the mean and standard deviation of a sample or a population gives us a good idea of where most of the data values are because of the following two rules:
EXAMPLE: A pharmaceutical company manufactures vitamin pills which contain an average of 507 grams of vitamin C with a standard deviation of 3 grams. Using Chebychev's rule, we know that at least
or 75% of the vitamin pills are within k=2 standard deviations of the mean. That is, at least 75% of the vitamin pills will have between 501 and 513 grams of vitamin C, i.e.,
EXAMPLE: If the distribution of vitamin C amounts in the previous example is bell shaped, then we can get even more precise results by using the empirical rule. Under these conditions, approximately 68% of the vitamin pills have a vitamin C content in the interval [507-3,507+3]=[504,510], 95% are in the interval [507-2(3),507+2(3)]=[501,513], and 99.7% are in the interval [507-3(3),507+3(3)]=[498,516].
NOTE: Chebychev's rule gives only a minimum proportion of observations which lie within k standard deviations of the mean.