Mathematics, 28.05.2021 14:00 bananakingdoof
A family of pdf's that has been used to approximate the distribution of income, city population size, and size of firms is the Pareto family. One such member of the Pareto family is the following pdf.
f(x) = { c//x^3 x≥2
0 x<2
Find the mean of X.
(a) 2
(b) 3
(c) 5
(d) 6
(e) 4
Answers: 1
  
![c[\frac{x^{-3+1}}{-3 +1}]|\limits^{\infty}_2 = 1](/tpl/images/1353/3463/7f72c.png)
![c[\frac{x^{-2}}{-2}]|\limits^{\infty}_2 = 1](/tpl/images/1353/3463/a6b7c.png)
![-\frac{c}{2} [x^{-2}]|\limits^{\infty}_2 = 1](/tpl/images/1353/3463/7ad40.png)
![-\frac{c}{2} [{\infty}^{-2} - {2}^{-2}]= 1](/tpl/images/1353/3463/dd1b3.png)
![-\frac{c}{2} [0 - \frac{1}{4}]= 1](/tpl/images/1353/3463/a40d2.png)
  
![Mean = -8[(\infty)^{-1} - 2^{-1}]](/tpl/images/1353/3463/06c01.png)
![Mean = -8[0 - \frac{1}{2}]](/tpl/images/1353/3463/cbde8.png)
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A family of pdf's that has been used to approximate the distribution of income, city population size...
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