Stochastic programs can effectively describe the decision-making problem in an uncertain environment. Unfortunately, such programs are often computationally demanding to solve. In addition, their solutions can be misleading when there is ambiguity in the choice of a distribution for the random parameters. In this paper, we propose a model describing one's uncertainty in both the distribution's form (discrete, Gaussian, exponential, etc.) and moments (mean and covariance). We demonstrate that for a wide range of cost functions the associated distributionally robust stochastic program can be solved efficiently. Furthermore, by deriving new confidence regions for the mean and covariance of a random vector, we provide probabilistic arguments for using our model in problems that rely heavily on historical data. This is confirmed in a practical example of portfolio selection, where our framework leads to better performing policies on the "true" distribution underlying the daily return of assets.

The LHCb experiment is dedicated to precision measurements of CP violation and rare decays of B hadrons at the Large Hadron Collider (LHC) at CERN (Geneva). The initial configuration and expected performance of the detector and associated systems, as established by test beam measurements and simulation studies, is described.

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