A Note on Deriving a Result in Decision Theory
NAVAL RESEARCH LAB WASHINGTON DC
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This note provides an alternate derivation of a well-known problem in decision theory, which deals with finding the minimum of a certain expectation, i.e., E X-c. Textbooks generally present this problem as an exercise to verify that the median does, in fact, yield a minimum. The derivation presented here directly finds the minimum, and yields asymptotic properties of the expectation. Keywords random variables mathematical statistics value.
- Statistics and Probability