The Pareto distribution is a skewed, heavy-tailed distribution that is sometimes used to model the distribution of incomes and other financial variables.
In the previous section, we considered discrete distributions. In this section, we study a complementary type of distribution. As usual, if you are a new student of probability, you may want to skip t...In the previous section, we considered discrete distributions. In this section, we study a complementary type of distribution. As usual, if you are a new student of probability, you may want to skip the technical details.