You believe X is distributed Pareto(,1). You want to estimate . (a) Use the Pareto model to
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You believe X is distributed Pareto(®,1). You want to estimate ®.
(a) Use the Pareto model to calculate P[X · x].
(b) You are given the EDF estimate Fn(5) Æ 0.9 from a sample of size n Æ 100. (That is, Fn(x) Æ 0.9 for x Æ 5.) Calculate a standard error for this estimate.
(c) Use the above information to forman estimator for ®. Find b®
and a standard error for b®.
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