The smallest upper bound for thepth absolute central moment of a class of random variables

Martín Egozcue*, Luis Fuentes García, Wing-Keung Wong, Ričardas Zitikis

*Corresponding author for this work

    Research output: Contribution to journalJournal articlepeer-review

    7 Citations (Scopus)

    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 languageEnglish
    Pages (from-to)125-131
    Number of pages7
    JournalMathematical Scientist
    Volume37
    Issue number2
    Publication statusPublished - 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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