Answer: A family of pdf’s that has been used to
Chapter 4, Problem 10E(choose chapter or problem)
Problem 10E
A family of pdf’s that has been used to approximate the distribution of income, city population size, and size of firms is the Pareto family. The family has two parameters, k and , both >0, and the pdf is
a. Sketch the graph of f (x; k, θ).
b. Verify that the total area under the graph equals 1.
c. If the rv X has pdf f (x; k, θ), for any fixed b > θ obtain an expression forP(X≤b).
d. For θP(a ≤ X ≤ b).
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