This lecture is on Markovs inequality. Markovs inequality is one of two inequalities that you can use to estimate probabilities quickly; the other one is Tchebysheff's inequality. Markovs inequality is a quick way of estimating probabilities based only on the mean of a random variable. All you have to know is the mean of a random variable or the expected value. One important condition that you need to use Markovs inequality is that, your random variable has only positive values. You have to be estimating things that can only be counted in positive numbers, like a number of customers at a business, or the number of miles a car is driven.
Lecture Slides are screen-captured images of important points in the lecture. Students can download and print out these lecture slide images to do practice problems as well as take notes while watching the lecture.