Question

While the Pareto distributions are continuous, they tend to be used to model discrete data in humanities and actuarial sciences. Moreover, with its roots in power functions, Pareto distributions may be used in the growing popularity of the studies of networks. The probability density function (PDF) for a Pareto distribution is

Answer 1

Explanation:

While the pareto distributions are continuous in nature, they are sometimes used to model discrete data in fields such as Social Sciences, Humanities, Geophysics, and Actuarial Sciences.

The Pareto Distribution is a power-law probability distribution used in studies of observable phenomena.

The probability density function (PDF) for a Pareto Distribution is:

Xn = 1

for various Alpha levels

Where Xn is the probability value of X

As Alpha tends to infinity, the pareto distribution tends to ¶ [X-Xn]

Where ¶ is the Dirac Delta function.