In a population, suppose personal income above $15,000 has a Pareto distribution with a = 1.8 (units
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In a population, suppose personal income above $15,000 has a Pareto distribution with a = 1.8 (units are $10,000). Find the probability that a randomly chosen individual has income greater than $60,000.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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