Improved Upper Bounds of Cantelli's Inequality Type and Their Practical Applications

In this paper, we establish upper bounds of Cantelli's inequality type that improve upon previous results, including those derived from Cantelli's and Hoeffding's inequalities. We present two practical applications to demonstrate the usefulness of our findings. The first application improves the measurement of financial risk in banks by obtaining more precise upper bounds on the probability of losses. The second application aims to mitigate exchange rate risk in the real estate market by hedging against fluctuations in the value of the domestic currency