Question: In a random sample of the teachers in a large
In a random sample of the teachers in a large school district, their annual salaries were $ 23,900, $ 21,500, $ 26,400, $ 24,800, $ 33,600, $ 24,500, $ 29,200, $ 36,200, $ 22,400, $ 21,500, $ 28,300, $ 26,800, $ 31,400, $ 22,700, and $ 23,100. Assuming that these data can be looked upon as a random sample from a Pareto population, use the estimator obtained in Exercise 10.65 to estimate the parameter α.
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