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[Solution Library] Let X be a random variable with CDF F(x). Show that E[(X-c)^2] is minimized by the value c = E(X). Assuming that X is continuous, show that

Question: Let X be a random variable with CDF F(x).

  1. Show that E[(X-c)^2] is minimized by the value c = E(X).
  2. Assuming that X is continuous, show that E[absolute value of (X-c)] is minimized if c is the median, that is, the value such that F(c) = ½.

Price: $2.99
Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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