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Understanding the Pareto Distribution by Mishal Khan is a document available to read on EtoBox.
What is Understanding the Pareto Distribution about?
The document discusses the Pareto distribution, which models income inequality. It states that the Pareto distribution models the number of people with incomes above a certain level x as a power function, with the proportion of total income received by those above x also following a power function. For an inequality parameter α close to 1, this distribution approximates the "80-20 rule" where the richest 20% of people receive 80% of total income. The document also discusses how to calculate the income share
- Author
- Mishal Khan
- Language
- EN