Let Xj, i = 1,2,... be i.i.d. continuous random variables that are uniformly distributed between [0,1]. Assuming x2 a) Provide a bound on PREX;>x using Chebyshev and Markov inequalities. b) Use the...

Extracted text: Let Xj, i = 1,2,... be i.i.d. continuous random variables that are uniformly distributed between [0,1]. Assuming x2 a) Provide a bound on PREX;>x using Chebyshev and Markov inequalities. b) Use the central limit theorem approximation to provide an approximation (in terms of the o function) for the expression in (a). In other words, provide an expression for Pr EX;>x i=1 using the central limit theorem. c) Compute (a) and (b) for n = 50, and x = 80 and comment on your answers.