WeightedMeanAbsDevVsMedian
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Function Description
Returns, , the weighted
mean absolute deviation versus the median of a series (for ), calculated as
follows:
(where is the weighted median
of the series, see MnWeightedMedian)
See also MnWeightedMeanAbsDevVsMean
which provides another common way of measuring mean absolute deviation.
However, the mean absolute deviation is minimised if it is measured relative to
the median of the series rather than relative to its mean.
See Weighted
Moments and Cumulants for further details and explanation of terms in this
formula. If the weights are equal then returns the same as MnMeanAbsDevVsMedian.
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