8. For constants o > 0 and a > 0, the function ασα p(x) = xa+1' where x > 0, is called a Pareto distribution. It is often used in modeling the distribution of incomes or wealth in a population. In the income interpretation, the function P(x) = | p(t)dt, x >0, gives the proportion of the population whose income exceeds x. Here o repre- sents the minimum income of any person in the population and a controls how rapidly the income distribution diminishes as x increases. (a) Find P(x). (b) If a > 1, the average income of a population described by this model is A = xp(x)dx. Find A.

8. For constants o > 0 and a > 0, the function ασα p(x) = xa+1' where x > 0, is called a Pareto distribution. It is often used in modeling the distribution of incomes or wealth in a population. In the income interpretation, the function P(x) = | p(t)dt, x >0, gives the proportion of the population whose income exceeds x. Here o repre- sents the minimum income of any person in the population and a controls how rapidly the income distribution diminishes as x increases. (a) Find P(x). (b) If a > 1, the average income of a population described by this model is A = xp(x)dx. Find A.

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Description: Refer to photo a) find P(x)b) solve 8. For constants o > 0 and a > 0, the functionασαp(x) :xa+1’where x > o, is called a Pareto distribution. It is often used in modeling the distributionof incomes or wealth in a population. In the income interpretat

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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