A random variable X has a Pareto distribution if and only if its probability density isgat for r > 1elsewheref(z) =where a > 0.Find E(X) when a > 1.Find Var(X) when a > 2.

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Answered: A random variable X has a Pareto…

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter13: Probability And Calculus

Section13.CR: Chapter 13 Review

Problem 42CR

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A random variable X has a Pareto distribution if and only if its probability density is for a > 1 f(x) = elsewhere where a > 0. Find E(X) when a > 1. Find Var(X) when a > 2.