Useful rules of thumb for bounding random variables (Part 2)

In the previous post ¬†we looked at Chebyshev's, Markov's and Chernoff's expressions for bounding (under certain conditions) the divergence of a random variable from its expectation. Particularly, we saw that the Chernoff bound was a tighter bound for the expectation, as long as your random variable was modeled as sum of independent Poisson trials. In … Continue reading Useful rules of thumb for bounding random variables (Part 2)