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Abstract Details
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Activity Number:
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472
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Type:
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Contributed
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Date/Time:
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Wednesday, August 1, 2012 : 8:30 AM to 10:20 AM
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Sponsor:
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Business and Economic Statistics Section
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| Abstract - #304598 |
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Title:
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A Parametric Measure of Dispersion Derived from the Generalized Mean
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Author(s):
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Victor Guerrero*+ and Claudia R Solis Lemus
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Companies:
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ITAM and University of Wisconsin-Madison
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Address:
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Rio Hondo 1, 01080 Mexico, , Mexico
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Keywords:
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Central tendency ;
Entropy ;
Power transformation ;
Spread ;
Variability
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Abstract:
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This paper presents a parametric measure of relative dispersion directly linked to the generalized mean. This measure depends on a parameter that indexes the family of power transformations and can be calculated numerically from a sample of observed data or theoretically from a probabilistic model. We propose to choose the corresponding index with the aid of a simple exploratory method. Then, we illustrate its use with the Normal and Lognormal probability models, and through some numerical examples. We show that the parametric measure of dispersion produces results that are comparable or even better than those produced by the coefficient of variation.
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