Random variable of the continuous type

Reference no: EM1399689

Let X be a random variable of the continuous type that has pdf f(x). If m is the unique median of the distribution of X and b is a real constant, show that E(X - bl) = E(X - ml) + 2 [(b - x)f(x) £lx, provided that the expectations exist. For what value of b is E(X - bl) a minimum?

Reference no: EM1399689

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