We introduce mean excess delay as a statistical measure of circuit delay in the presence of parameter variations. The β-mean excess delay is defined as the expected delay of the circuits that exceed the β-quantile of the delay, so it is always an upper bound on the β-quantile. However, in contrast to the β-quantile, it preserves the convexity properties of the underlying delay distribution. We apply the β-mean excess delay to the circuit sizing problem, and use it to minimize the delay quantile over the gate sizes. We use the Analytic Centering Cutting Plane Method to perform the minimization and apply this sizing to the ISCAS '85 benchmarks. Depending on the structure of the circuit, it can make significant improvements on the 95%-quantile.