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Pareto Distribution

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Pareto Distribution

In probability and statistics, the Pareto distribution is a skewed, heavy-tailed, continuous distribution that is sometimes used to model the distribution of incomes, financial variables and populations.

For Data Entry the Pareto Distribution app for iPad and iPhone utilizes two numeric data entry fields to enter the Shape Parameter (a) and the Random Variable(x). After entering data
enter on the Compute button.

The Pareto Distribution app graphs the Pareto Proability Density Function f(x) graph for the entered Shape Paramter (a) and for a family of 200 Random Variable values for the range [1.0-3.0] with an increment value of 0.01. A unique graph will be displayed for each unique Shape Parameter (a). A Data Table displays the x/f(x) values for the Interval [0-1] Range.
Donald Schaefer