A random variable X has a Pareto distribution if and only if its probability density is for a > 1 f(x) = elsewhere where a > 0. Find E(X) when a > 1. Find Var(X) when a > 2.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 39E: Assume that the probability that an airplane engine will fail during a torture test is 12and that...
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A random variable X has a Pareto distribution if and only if its probability density is
gat for r > 1
elsewhere
f(z) =
where a > 0.
Find E(X) when a > 1.
Find Var(X) when a > 2.
Transcribed Image Text:A random variable X has a Pareto distribution if and only if its probability density is gat for r > 1 elsewhere f(z) = where a > 0. Find E(X) when a > 1. Find Var(X) when a > 2.
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