Probability theory MOC

Median

Let 𝑋 be a real random variable. A value π‘š is a median of 𝑋 iff β„™(𝑋 β‰€π‘š) β‰₯12 and β„™(𝑋 β‰₯π‘š) β‰₯12. prob

Properties

  • A median π‘š minimizes the mean absolute error 𝔼⁑[|π‘‹βˆ’π‘₯|]


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