## Abstract

We establish the smallest upper bound for the pth absolute central moment over the class of all random variables with values in a compact interval. Numerical values of the bound are calculated for the first ten integer values of p, and its asymptotic behaviour derived when p tends to infinity. In addition, we establish an analogous bound in the case of all symmetric random variables with values in a compact interval. Such results play a role in a number of areas including actuarial science, economics, finance, operations research, and reliability.

Original language | English |
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Pages (from-to) | 125-131 |

Number of pages | 7 |

Journal | Mathematical Scientist |

Volume | 37 |

Issue number | 2 |

Publication status | Published - Dec 2012 |

## Scopus Subject Areas

- Materials Science(all)

## User-Defined Keywords

- Central moment
- Convex function
- Edmundson-Madansky bound
- Mean
- Smallest upper bound

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