Standard Deviation in the Business World Literature Review

In order to demonstrate the applicable uses of standard deviation and other measures of central tendency to the study of business-based economics, it is informative to study the empirical research conducted by researchers with expert knowledge in the field. To that end, an article titled "A Robust Mean Absolute Deviation Model for Portfolio Optimization," which was jointly authored by Korean researchers Yongma Moon and Tao Yao, has been chosen for further review. Published in the scholarly journal Computers and Operations Research in 2011, this comprehensive combination of literature review and statistical modelling is intended to test the efficacy of applying standard deviation to the process of portfolio optimization. In this paper, the authors develop a robust model for portfolio optimization based on their own amalgamation of economic and financial data points. The purpose of this research is to expand the base of...
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