Explore the importance of robust statistics like median and MAD in data analysis, ensuring accurate insights despite outliers ...

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Confidence intervals for the population mean of a normal distribution can be determined from the distribution of the variate $H = \sqrt n(\bar x - \mu)/d$, analogue ...

The purpose of this paper is to demonstrate that a portfolio optimization model using the L$_1$ risk (mean absolute deviation risk) function can remove most of the difficulties associated with the ...