Orlicz regrets to consistently bound statistics of random variables with an application to environmental indicators

arXiv:2310.05168v2 Announce Type: replace-cross
Abstract: Evaluating environmental variables that vary stochastically is the principal topic for designing better environmental management and restoration schemes. Both the upper and lower estimates of these variables, such as water quality indices and flood and drought water levels, are important and should be consistently evaluated within a unified mathematical framework. We propose a novel pair of Orlicz regrets to consistently bound the statistics of random variables both from below and above. Here, consistency indicates that …

abstract application arxiv designing drought environmental flood management math.oc math.pr math.st quality random statistics stat.ml stat.th type variables water