In the article, we prove that the double inequalities [Formula: see text] hold for all [Formula: see text] if and only if [Formula: see text] and [Formula: see text] if [Formula: see text], where [Formula: see text] is the modified Bessel function of the second kind. As applications, we provide bounds for [Formula: see text] with [Formula: see text] and present the necessary and sufficient condition such that the function [Formula: see text] is strictly increasing (decreasing) on [Formula: see text].
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Yang et al. (2017) studied this question.
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