Abstract

Given a random variable X with finite mean, for each 0 < p < 1, a new sharp bound is found on the distance between a p-quantile of X and its mean in terms of the central absolute first moment of X. The new bounds strengthen the fact that the mean of X is within one standard deviation of any of its medians, as well as a recent quantile-generalization of this fact by O'Cinneide.

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Mathematics

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Mathematics Commons

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URL: http://digitalcommons.calpoly.edu/rgp_rsr/33